In a notable shift in investor hands, Citigroup Global Markets, the investment banking and brokerage arm of US-based Citigroup Inc., has offloaded its stake in food delivery unicorn Swiggy. According to data sourced from the stock exchange’s bulk deals, Citi sold 3.2 lakh shares of Swiggy at ₹381 apiece to BNP Paribas Financial Markets—the investment arm of French banking heavyweight BNP Paribas. The total deal is valued at approximately ₹12.2 crore.
This stake transfer comes as Swiggy continues to navigate a turbulent phase. The company recently confirmed plans to shut down its digital storefront vertical, Minis, by August 10. Once a promising feature within the Swiggy app, Minis offered home-cooked meals, handcrafted gifts, and baking essentials. However, it has been quietly absent from the platform for over a year now—hinting at a gradual phase-out long before the official closure date.
Financially, Swiggy remains under pressure. The company reported a revenue of ₹4,410 crore in the quarter ending March 31, 2025, but also posted a significant loss of ₹1,081 crore during the same period. Its core food delivery segment continues to be the leading revenue contributor, accounting for 37% of the topline, followed closely by its quick commerce operations.
As of 11:42 AM today, Swiggy’s stock was trading at ₹392.2, with the company commanding a market capitalisation of ₹96,030 crore.
The deal between Citi and BNP Paribas signals continued institutional interest in Swiggy, even as the company recalibrates its offerings and seeks a path to profitability in a competitive and fast-evolving market.
