SBI Mutual Fund Buys Swiggy Shares Worth ₹300 Crore
SBI Mutual Fund has increased its stake in food technology company Swiggy by acquiring additional shares on the open market. This transaction pushes the fund's ownership past the 5% disclosure threshold.
SBI Mutual Fund has significantly boosted its investment in Indian food technology major Swiggy, acquiring an additional stake on the open market earlier this week.
The mutual fund acquired 1.18 crore equity shares of Swiggy, with the transaction estimated to be worth approximately ₹300.6 crore based on the day's closing price. This purchase raises SBI Mutual Fund's total holding to 14.16 crore shares, representing about 5.1% of Swiggy's total equity and surpassing the mandatory 5% disclosure threshold set by SEBI rules.
Prior to this acquisition, SBI Mutual Fund held a 4.7% stake in Swiggy. The move comes roughly a month after Swiggy secured shareholder approval to cap foreign ownership at 49.5%, solidifying its status as an Indian-owned and controlled company. This change is expected to enable Swiggy to shift its quick commerce arm, Instamart, to an inventory-led model from its current marketplace structure.
Financially, Swiggy reported a net loss of ₹791 crore in the first quarter of FY27, a nearly 34% year-on-year decrease. Operating revenue increased by 36.8% year-on-year to ₹6,812 crore. The company also achieved a milestone with Instamart reaching contribution margin breakeven during the quarter.