SBI Mutual Fund acquired an additional 1.18 crore equity shares of Swiggy through open market transactions on Tuesday, increasing its total stake to around 5.1%, or 14.16 crore shares. The purchase, executed at the closing price of ₹253.90, cost the fund over ₹300.6 crore, according to Swiggy’s disclosure to the stock exchanges.
Prior to this transaction, SBI Mutual Fund held a 4.7% stake in Swiggy, including 7.11 crore shares held by its SBI Equity Hybrid Fund entity. The recent acquisition pushed its aggregate holding beyond the 5% disclosure threshold mandated by SEBI. Domestic mutual funds collectively held a 22.8% stake in Swiggy as of June 30, 2026, while SBI Mutual Fund also owns about 4% in Swiggy’s rival, Eternal.
The stake increase follows Swiggy’s recent shareholder approval to cap foreign ownership at 49.5%, securing its status as an Indian-owned and controlled company (IOCC). This regulatory move enables Swiggy to shift its quick commerce arm, Instamart, from a marketplace model to an inventory-led model, allowing direct procurement from brands, which is expected to boost Instamart’s revenues.
The transaction marks a significant investment by SBI Mutual Fund in Swiggy, reflecting confidence in the company’s strategic pivot. The mutual fund’s total holding now stands at 14.16 crore shares, or 5.1%, as confirmed in Swiggy’s stock exchange filing on Tuesday.