Swiggy sees 4% equity change hands in block deals; shares gain 2.5%

Shares of food delivery and quick-commerce company Swiggy rose 2.53% to Rs 276.10 apiece on the NSE on Friday (September 4) from the previous close of Rs 269.30. The stock traded in a range of Rs 269.30-284.40 during the session.


Around 1.11 crore Swiggy shares, equivalent to 4% of the company’s equity, changed hands through block deals on Friday, according to exchange data. The large trade came as part of rebalancing following a cut in Swiggy’s weight due to changes in headroom announced earlier.


Despite Friday’s gains, Swiggy shares have declined 29.33% so far in 2026. Over the past one year, the stock has fallen 34.74%, according to NSE data.

Swiggy has a market capitalisation of Rs 76,212.26 crore. The stock’s 52-week range on the NSE stands at Rs 235.75-Rs 474.

ALSO READ: Swiggy forays into dedicated travel concierge service with CREW

MSCI Index removal

Earlier, Global index provider MSCI had announced the deletion of Swiggy from its flagship MSCI Global Standard Index and Mid Cap Index, effective September 7, 2026. Swiggy was added to the MSCI indices in August 2025.

The move follows shareholders’ approval of a proposal to cap the company’s total foreign ownership at 49.5%, as Swiggy seeks to secure recognition as an Indian-Owned and Controlled Company (IOCC).

Achieving IOCC status would allow Swiggy to directly own and sell inventory through its quick-commerce business, Instamart. The company expects the move to improve margins and strengthen supply-chain control.

Swiggy has been working towards meeting the requirements for IOCC status. In May, shareholders did not approve the requisite proposal to amend the company’s Articles of Association (AoA). Subsequently, shareholders approved the foreign ownership cap, along with amendments to the AoA to align with India’s Foreign Exchange Management Act (FEMA) regulations.

Swiggy’s foreign investors include Prosus, SoftBank, Tencent and Accel, while its Indian investors include SBI Mutual Fund, ICICI Prudential Asset Management and HDFC Mutual Fund, according to data compiled by LSEG.

Q1 FY27 results

Earlier on July 30, Swiggy reported a consolidated net loss of Rs 791 crore for the first quarter of FY27, a nearly 34% decline from the Rs 1,197-crore net loss reported in the year-ago period.

Revenue from operations increased more than 37% year-on-year to Rs 6,812 crore in the April-June quarter of FY27, compared with Rs 4,961 crore in the corresponding period a year earlier.

Total income rose more than 39% year-on-year to Rs 7,023 crore, while total expenses increased over 25% to Rs 7,813 crore during the quarter.

Swiggy’s food delivery segment reported revenue growth of 23% year-on-year to Rs 2,208 crore. Gross order value (GOV) for the segment increased more than 17% year-on-year to Rs 9,490 crore, while Monthly Transacting Users (MTU) rose around 18% to 1.92 crore.

The company said its first-quarter margins were impacted by seasonal factors and annual salary hikes during the quarter, adding that margin pressure is expected to normalise over the rest of the year.

About Swiggy

Swiggy is a consumer-focused convenience platform offering food delivery, quick commerce and other local services through a unified app.

The company was founded in 2013 by Sriharsha Majety, Nandan Reddy and Rahul Jaimini and is headquartered in Bengaluru, Karnataka.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)