By Aditya Kalra and Indranil Sarkar

NEW DELHI, Oct 31 (Reuters) - Big investors including

Norway's sovereign wealth fund Norges and Fidelity have placed

bids worth more than $15 billion in Swiggy's India IPO, 25 times

the $605 million portion reserved for such investors, four

sources told Reuters on Thursday.

Swiggy, a SoftBank-backed Indian food and grocery delivery

giant, will next week launch its $1.35 billion IPO that will be

country's second-biggest stock offering this year. The bidding

process is ongoing.

After a recent correction in stock markets, the company has

reduced its estimated valuation from the IPO to $11.3 billion,

25% less than an earlier estimation of $15 billion.

Signalling growing interest in India's food delivery and

"quick commerce" space - where goods are delivered in 10 minutes

- the IPO anchor book reserved for big investors has already

received bids worth more than $15 billion, said the sources, who

declined to be named as the process is confidential.

Top investors include Norway's sovereign wealth fund Norges

Bank Investment Management, Fidelity International and

U.S.-based Capital Group, said three of the sources. The fourth

source said BlackRock ( BLK ) and the Canada Pension Plan

Investment Board are also among investors.

None of the investors or Swiggy immediately

responded to a request for comment.

Research firm Datum Intelligence expects quick commerce

sales in India to hit $6 billion this year, up from $100 million

in 2020.

Indian companies including Swiggy, main rival Zomato

and billionaire Mukesh Ambani's Reliance are

betting big on the quick commerce concept as they jostle to

deliver everything from milk to cosmetics to iPhones within

minutes, outpacing peers like Amazon ( AMZN ) on delivery times.