Swiggy, India’s leading food delivery platform, will see a significant portion of its pre-IPO shares become eligible for trading over the next one month as its lock-in period expires. Over 7.8 crore shares—worth about Rs 3,345 crore at current valuations—will be freed up in multiple tranches, raising the possibility of heightened market activity around the stock.
The first batch of 29 lakh shares will be unlocked on January 29, followed by smaller releases of 300,000 shares on January 31 and 100,000 shares on February 19. However, the most substantial unlock comes on February 10, when 6.52 crore shares—representing roughly 3 per cent of Swiggy’s total outstanding shares—will hit the market. A final tranche of 96 lakh shares is scheduled for February 24.
The valuation of the unlocking shares is based on Swiggy’s last closing price of Rs 428.30 on the BSE on Wednesday. At this price, the total value of the unlocked shares amounts to Rs 3,345 crore.
While the unlocking of these shares could increase supply pressure, analysts at brokerage Nuvama noted that not all shares may be sold immediately. A significant portion of Swiggy’s locked-up stock remains held by promoters and institutional investors, which could limit the near-term impact on share prices.
In a regulatory filing on Wednesday, Swiggy announced that its board of directors will meet on February 5, 2025, to review and approve the unaudited financial results for the quarter and nine months ended December 31, 2024. This will mark Swiggy’s second earnings report since going public.
In the July-September 2024 quarter, food delivery giant Swiggy reported a consolidated net loss of Rs 625 crore, narrowing from Rs 657 crore in the same period last year. The company’s revenue from operations surged 30 per cent year-on-year to Rs 3,601 crore, up from Rs 2,763 crore in Q2 FY24.
Swiggy, which went public in 2024 in a widely watched IPO, remains a key player in India’s fast-growing food-tech sector, competing with Zomato and newer entrants in the quick-commerce space. As its lock-in expiry looms, investors will be closely monitoring market movements to gauge sentiment and potential liquidity shifts in the stock.
Swiggy’s stock has fallen over 21 per cent in the past month, with a nearly 3 per cent decline in the last week alone.
