Swiggy share price falls over 5% after one-month anchor lock-in period ends.

Swiggy share price dropped more than 5% in early trade on Wednesday after the lock-in period for anchor investors ended today. Swiggy’s share fell 5.07% to ₹515.95 a piece on the BSE, all its previous session gains erased.

Swiggy shares hit the stock market on November 13, and the lock-in period for anchor investors concluded today, December 11. After one month from listing, anchor investors are eligible to sell 50 per cent of the shares owned by them.

After the lock-in expired, as many as 6.5 crore shares or a 3% stake in Swiggy became free to trade. The remaining 50% of anchor investor’s shares are scheduled to complete their lock-in on February 9.

While noting the lock-in period is ending, all the shares of anchor investors don’t get sold in themselves. They are just qualified for trading in the market after the end of the lock-in period.

Swiggy share price had a decent listing last month when the stock got listed at ₹420 per share, which is 7.69% over its subject price of ₹390 on NSE. Swiggy shares have had a good listing rally since its listing, and the stock has seen a gain of more than 35% over its issue price. After the decline in Swiggy shares today, the stock trades more than 30% higher than its issue price.

In the aforementioned session, Swiggy stock price waked decently after a global brokerage firm CLSA started its coverage on the stock with an ‘outperform’, setting a Swiggy share price target of ₹708 apiece. Swiggy stands said to see improved execution as growth and profitability may begin to accelerate. Estimates at CLSA suggest food delivery and quick commerce to hold FY27 TAMs of $16 billion and $27 billion, respectively.