New Delhi, 22 February (IANS). The country’s legendary food delivery and Quick Commerce company Swiggy’s valuation has seen a major decline and it has come down by 50 percent from its highest level. This has drowned more than Rs 50,000 crore of investors.
After the IPO came in November 2024, Swiggi’s valuation increased to Rs 1,32,800 crore ($ 16 billion) by December 2024. After this, it has fallen to Rs 81,527 crore ($ 9.82 billion) by 21 February 2025, which shows a decline of Rs 51,273 crore in the valuation.
The company’s valuation was $ 12.7 billion at the time of listing in the stock market.
Swiggy’s stock was listed at the National Stock Exchange (NSE) at Rs 420 and Bombay Stock Exchange (BSE) at Rs 412. However, due to the decline, the stock has now come to Rs 360.
Since the beginning of this year, Swiggi’s stock has fallen by more than 33 percent.
The third quarter of FY25 shows a decline in Swiggy’s stock due to the expected results of expected. The company recorded a loss of Rs 799.08 crore in the October-December period, while it was at Rs 625.53 crore in the last quarter.
The decline in the stock is also due to the end of the lock-in period on the stock after the IPO.
On January 29, the unlock of 2.9 million shares ended. After this, 300,000 shares were available on 31 January and available for sale. At the same time, the highest number of 65 million shares were unlocked on 10 February.
In addition, 100,000 shares were unlocked on 19 February. On February 14, Swiggi’s stock reached its all-time and 323 rupees due to no bulk deal.
-IANS
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