Macquarie flags challenges for Swiggy, initiates 'Underperform' rating ahead of listing

Macquarie has given Swiggy an "Underperform" rating ahead of its IPO, predicting a potential 17% decrease from its issue price. Despite a promising future, Swiggy's path to profitability is difficult, particularly in the quick commerce market. Swiggy's IPO received a respectable subscription rate, and its shares are expected to debut on the market soon.