Swiggy Shares Decline Amid Major Asset Restructuring

Swiggy's shares dropped 1.78% to ₹441.20 despite board approval of significant asset sales and corporate restructuring worth over ₹2,400 crore. The stock opened higher at ₹458.20 but faced heavy selling pressure, with sell orders quadrupling buy orders.

Analysts remain divided on the implications. Morgan Stanley maintains an overweight rating (₹450 target), viewing the Rapido stake sale as balance sheet strengthening. Nomura is more bullish (₹550 target), citing Instamart's restructuring as a strategic MOVE for future inventory ownership. Macquarie struck a cautious tone (₹285 target), warning of potential external funding needs despite improved net cash positions.

The board approved the sale of Rapido shares to MIH Investments One B.V. for ₹1,968 crore, part of a broader monetization strategy.