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Swiggy’s share price today
Shares of food and grocery delivery platform company, Swiggy, slipped 6 per cent to ₹ 322.10 on the BSE in Friday’s intra-day trade amid heavy volumes. The stock price of the company was trading close to its record low level of ₹ 305.80 touched on April 7, 2025.
At 02:22 pm; Swiggy quoted 5 per cent lower at ₹ 323.50, as compared to 0.45 per cent decline in the BSE Sensex. The average trading volumes at the counter more than doubled; with a combined nearly 5 million equity shares of the company changing hands on the NSE and BSE.
Past price performance of Swiggy
Share price of Swiggy has tanked 48 per cent from its record high of ₹ 617 touched on December 23, 2024. Swiggy made its stock market debut on November 13, 2024. Currently, the stock quotes 17 per cent below its issue price of ₹390 per share.
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Key reasons for the sharp fall in stock price
Swiggy’s share price has underperformed the market amid concerns of rising losses in the quick commerce business and margins slowdown in the food delivery unit.
Meanwhile, Foreign Portfolio Investors (FPIs) reduced their holding in Swiggy by 1.28 percentage points during the quarter ended March 2025 (Q4FY25), the shareholding pattern data shows. As per data, FPIs' stake in Swiggy declined to 4.9 per cent from 6.18 per cent at the end of December 2024 quarter (Q3FY25).
Domestic mutual funds (MFs) however, increased their holding in the company to 5.51 per cent from 4.4 per cent in the previous quarter. Retail individual shareholders' stake in Swiggy also rose to 18.14 per cent from 16.33 per cent.
Swiggy's stock is likely to be volatile in the near term on account of market speculation around possible exits by some pre-IPO shareholders whose lock-in is set to expire on May 12, 2025. So, a sizeable proportion of Swiggy’s shares can get traded in the near term, according to analysts.
Brokerage view on Swiggy - JM Financial Institutional Securities
“While we cannot accurately predict when these shareholders will exit, or whether they will even exit, it is pertinent to note that several of them are already sitting on significant unrealised gains. While a few had partly liquidated their positions pre-IPO as well as during the IPO, we believe at least some investors will be eager to liquidate their holding despite the fact that the stock is trading below its IPO price,” analysts at the brokerage firm said in a recent report.
In fact, the total stock that is currently locked in is ~83 per cent, which at current market price (CMP) is valued at ~₹ 60,905 crore. Even if one were to assume that only 15 per cent of company’s stake will be available for trade immediately post expiry, the total outflows could be ~₹ 9,136 crore.
Long-term investors can use these liquidity events to build a sizeable position in Swiggy as, at CMP, the market seems to accord value to only its food delivery business, whereas Instamart and other businesses are not getting any meaningful value, JM Financial Institutional Securities said in its report dated April 23, 2024.
The brokerage firm expects Swiggy’s adjusted EBITDA loss in its quick commerce business (Instamart) to jump in the near term. The loss is likely to increase from ₹ 580 crore in December 2024 quarter (Q3) to ₹ 780 crore in March 2025 quarter (Q4) on account of a sharp ramp-up in its dark store count as well as high competitive intensity. While analysts expect these losses to meaningfully come down starting June 2025 quarter (Q1FY26) onwards, the high base of fixed costs means that the path to eventual break-even at adjusted EBITDA level will take some time.
About Swiggy
Swiggy is a technology company offering food delivery, grocery, and household item services through its platform. The company has expanded its services to over 500 cities, including food delivery, Instamart, and Genie. Swiggy has also acquired DineOut and introduced restaurant discovery, bookings, and payment services. Swiggy Instamart, its quick commerce platform operating in 100 cities, delivers groceries and other essentials across 20+ categories in 10 minutes.
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