Swiggy Block Deal: BNP Paribas Acquires Shares Worth INR 12.2 Cr

Original | July 03, 09:49 PM

In a major block deal today, Citigroup Global Markets sold around 3,20,421 shares of foodtech major Swiggy at a price of INR 381 per share. BNP Paribas Financial Markets stepped in as the buyer, picking up the entire lot in a single transaction.

The total deal value stood at approximately INR 12.2 Cr. This is a discount of 1.3% per share from today’s closing price of INR 386.05. Swiggy’s market capitalisation stood at INR 96,267.24 Cr at the close of trading on Thursday. 

This deal comes on the heels of the company closing down underperforming non-core initiatives like Swiggy Minis (its D2C SaaS platform) and Swiggy Genie (its hyperlocal delivery service). 

Notably, Swiggy’s “platform innovations” segment, has seen about a 40% YoY drop in Q4 FY25 revenue and losses more than doubling to INR 36.1 Cr in the same quarter.

Meanwhile, Swiggy is testing a new app called ‘Crew’, which acts like a travel and lifestyle assistant. It’s aimed at wealthier customers and helps them with both everyday tasks and special plans.

Further, as IIFL Capital recently gave the stock a ‘buy’ rating and predicted it could go up by 46%, setting a target price of INR 535 per share, it resulted in the company’s stock rising over 10% last week. 

However, IIFL Capital has also said that Swiggy is behind its rival Eternal in food delivery by about seven to eight quarters, and in quick commerce by around three to eight quarters, based on order value and profit margins.

Also, Swiggy was also added to FTSE Russell’s global equity indices on Friday, which could lead to large investments as part of the June 2025 changes.

Swiggy’s shares grew 1.21% to INR 386.05 on BSE today.