Citigroup sells Swiggy shares worth ₹12.2 cr to BNP Paribas in block deal

Despite the sale, Swiggy shares closed slightly higher at ₹383.55 on the NSE. 
| Photo Credit:
FRANCIS MASCARENHAS/Reuters

Citigroup Global Markets, the brokerage and investment banking arm of Citigroup, has offloaded shares of food delivery platform Swiggy worth ₹12.2 crore to BNP Paribas Financial Market in a block deal.

According to exchange data, Citi sold 3.2 lakh shares at ₹381 apiece — marginally below the day’s opening price of ₹383. The stock, however, edged up during the session and closed at ₹383.55 at NSE on Thursday.

The transaction comes amid improving investor sentiment in the consumer-tech space. Swiggy’s shares have gained nearly 20% on the National Stock Exchange (NSE) in the April–June quarter. Rival Eternal also posted a 25% rise in the same period.

Despite the uptick in its share price, Swiggy continues to face profitability challenges in its quick commerce business. Dutch investment giant Prosus, which owns a 24.8% stake in Swiggy, recently noted that growth in both food delivery and quick commerce has been accompanied by margin pressure, driven largely by the expansion of its dark store infrastructure and increased competition.

To diversify its business and tap into new revenue streams, the company has been expanding into adjacent verticals. In June, it announced the launch of Crew, a travel concierge and lifestyle management service. This followed the April rollout of Pyng, a professional services marketplace, marking Swiggy’s push beyond core food and grocery delivery.

These moves reflect Swiggy’s broader strategy to evolve into a multi-service consumer platform even as it navigates stiff competition and tight unit economics in its core operations.

Published on July 4, 2025