Swiggy shares fall over 4% as anchor lock-in period expires

Swiggy’s shares dropped by 4.18% today, trading at ₹520.85, as investors booked profits following the expiration of the lock-in period for anchor investors. This development allows anchor investors to offload up to 50% of their holdings in Swiggy, with the lock-in for the remaining 50% expiring on February 9, 2025.

The stock has gained 24.05% since its market debut last month, reflecting strong investor interest in the quick commerce sector. However, today’s profit-booking erased the gains from its previous session. Analysts attribute the market’s focus to Swiggy’s competitive valuations and growth potential in catching up with industry leader Zomato.

The Indian quick commerce industry is projected to grow sixfold between FY24 and FY27, according to CLSA. Swiggy’s IPO and its subsequent trading have further spotlighted the segment, offering room for multiple players to thrive. The market remains optimistic about the sector’s long-term growth despite short-term volatility.