Synopsis:

Swiggy has exited its entire 12% stake in Rapido for Rs. 2,399 crore, citing conflict of interest and focusing resources on strengthening its Instamart quick-commerce vertical.

The company, known for its strong presence in food delivery and quick commerce, has taken key strategic decisions that signal a shift in focus. Its board has approved transferring operations under its quick commerce arm while also divesting its entire stake in a mobility startup. This article explores the reasoning behind these moves.

Swiggy Limited’s stock, with a market capitalisation of Rs. 1,09,857 crores, fell to Rs. 437.15, hitting a low of up to 2.68 percent from its previous closing price of Rs. 449.20. Furthermore, the stock from start of the year has given a negative return of 19 percent.

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