Swiggy clarifies Bolt expansion, denies market speculation
The shares of Swiggy Limited were trading at ₹561.65 up by ₹43.85 or 8.47 per cent in the NSE today at 11.15 am. The shares hit its 52-week high today at ₹566.
Swiggy Limited has responded to stock exchange inquiries regarding recent news about its 10-minute food delivery service Bolt’s expansion to over 400 cities. In a regulatory filing dated December 3, 2024, the company emphasised that the business activity reported is part of its ordinary course of operations.
The company submitted an official clarification to both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) after receiving surveillance letters on December 2, 2024. Swiggy explicitly stated that it does not possess any price-sensitive information that could explain recent trading volume or price movements.
Swiggy’s registered office is located in Bengaluru, Karnataka.
