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News Topical, Digital Desk : Swiggy Limited's board on Tuesday approved the sale and transfer of its quick-commerce business to subsidiary Swiggy Instamart Pvt Ltd. through a slump sale. The company said in a stock exchange filing that it will receive Rs 297 crore for this slump sale, which is equal to its book value.
Swiggy Instamart is a subsidiary of Scootsy Logistics Pvt. Ltd., a wholly-owned subsidiary of Swiggy Limited. Swiggy has already appointed a separate executive to manage the financials of the quick-commerce and food delivery businesses.
When will this transaction be completed?
The company stated that the transaction will be completed after the October-December quarter. Following this, the food delivery business will remain with Swiggy, while the quick-commerce business will operate under the Instamart brand, Swiggy Instamart. In 2024-25, Instamart's revenue was estimated at ₹213 crore, representing 24.21% of the company's total standalone revenue. In another development, Swiggy announced the sale of its stake in Rapido. The company will sell 10 equity shares and 163,990 convertible preference shares to Prosus Group Company for ₹19.68 billion. Additionally, Swiggy will sell 35,958 compulsorily convertible preference shares to Setu AIF Trust for ₹431 crore.
Swiggy: Stock Performance Swiggy shares closed marginally down 0.1% at ₹449.20 on the National Stock Exchange (NSE) on Tuesday. The stock has gained 28% in the past six months. Meanwhile, it is down 17% so far in 2025. The stock has remained flat over the past year. With a market capitalization of approximately ₹1 lakh crore, the company's stock has a 52-week high of ₹617.30 and a low of ₹297 per share.
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