Swiggy Shares Sold by Citigroup Global Markets to BNP Paribas
Swiggy’s shares have been sold by Citigroup Global Markets, the brokerage and investment banking branch of Citigroup Inc., to BNP Paribas Financial Markets, the investment division of the notable French banking firm BNP Paribas, through a block deal.
Citi has liquidated 320,000 shares at a price of Rs 381 each to BNP Paribas Financial Markets, which totals Rs 12.2 crore based on data obtained from the stock exchange regarding bulk transactions.
This transaction occurs after it has been announced that Swiggy plans to discontinue its digital storefront platform, Minis, by August 10. The Minis platform has not been visible on the Swiggy application for more than a year, indicating a potential gradual shutdown. This digital storefront provided various categories, including home-cooked meals, artisanal gifts, and baking necessities.
In the last quarter of the financial year concluding March 31, 2025, Swiggy reported a revenue of Rs 4,410 crore, alongside a loss of Rs 1,081 crore during the same timeframe. The food delivery segment plays a crucial role as a revenue source for Swiggy, accounting for 37% of the total revenue, with quick commerce following closely behind.
Currently, Swiggy’s stock is being traded at Rs 392.2 (as of 11:42 AM), with a total market capitalisation of Rs 96,030 crore.
