In a significant market move on Thursday, BNP Paribas Financial Markets acquired shares worth ₹122.08 Cr in foodtech giant Swiggy via a block deal. The transaction saw Citigroup Global Markets offloading approximately 3,20,421 shares at ₹381 per share — a 1.3% discount from Swiggy’s closing price of ₹386.05 on the BSE.
The deal arrives at a pivotal moment for Swiggy, which recently shut down several underperforming verticals, including its D2C SaaS venture Swiggy Minis and hyperlocal delivery service Swiggy Genie. These strategic exits come amid mounting pressure on the company’s “platform innovations” segment, which recorded a 40% year-on-year revenue dip and losses doubling to ₹36.1 Cr in Q4 FY25.
Despite short-term setbacks, investor sentiment around Swiggy has seen a recent upswing. IIFL Capital recently issued a ‘buy’ rating on the stock with a target price of ₹535 — a potential upside of 46% — propelling a 10% surge in the company’s stock last week.
However, IIFL also pointed out that Swiggy lags behind rival Eternal in both food delivery and quick commerce by several quarters in terms of order value and profit margins.
Meanwhile, Swiggy is reportedly piloting a new app called ‘Crew’, a lifestyle and travel assistant designed for affluent users, signaling continued innovation in consumer experience.
Adding to the positive momentum, Swiggy was included in FTSE Russell’s global equity indices as part of its June 2025 review, a move that could draw increased institutional interest.
As of market close, Swiggy’s market cap stood at ₹96,267.24 Cr, with its stock rising 1.21% to ₹386.05 on the BSE.
