SBI Mutual Fund Raises Swiggy Stake Above 5% After ₹300 Crore Share Purchase

Key Takeaways

• SBI Mutual Fund purchased around 1.18 crore Swiggy shares through open-market transactions on September 29.
• The shares were acquired at approximately ₹253-254 apiece, taking the transaction value to around ₹300 crore.
• SBI Mutual Fund’s holding in Swiggy increased from about 4.7% to 5.1% following the purchase.

SBI Mutual Fund has increased its holding in Swiggy beyond the 5% mark after acquiring shares worth approximately ₹300 crore in the food and grocery delivery company.

The asset manager bought around 1.18 crore shares through open-market transactions on September 29, according to an exchange filing reported by The Economic Times. The purchases took place at roughly ₹253-254 per share.

SBI Mutual Fund’s holding consequently increased from around 4.7% to 5.1%.

Crossing the 5% level is notable because shareholding disclosures become relevant once institutional investors move past specified ownership thresholds in listed companies.

The transaction is considerably larger than a routine change in a mutual fund portfolio.

At approximately ₹300 crore, it represents a sizeable additional exposure to Swiggy by India’s largest mutual fund house. SBI Mutual Fund manages investments across numerous equity schemes, although the exchange disclosure concerns the aggregate shareholding associated with the fund house rather than the performance or allocation of any one scheme.

Swiggy operates across food delivery and quick-commerce businesses. Its shares have seen substantial market attention since listing, with investors tracking the company’s growth in food delivery as well as spending in the competitive quick-commerce segment.

The mutual fund purchase itself does not establish a view on future share-price performance.

Fund houses routinely adjust individual company exposures in response to scheme mandates, portfolio positioning, valuations and liquidity requirements. Changes in institutional ownership therefore need to be viewed separately from any recommendation to buy or sell the underlying stock.

The latest disclosure establishes one clear change: SBI Mutual Fund now owns more than 5% of Swiggy following its September 29 purchases.