Deals23 Sept 2025, 07:02 pm
Swiggy Ltd. to Sell Instamart Business to Subsidiary for INR 21,295.84 Million
AI Summary
Swiggy Ltd. announced that its Board of Directors approved the sale and transfer of its quick commerce business under the brand name ‘Instamart’ to its indirect step-down wholly-owned subsidiary, Swiggy Instamart Private Limited, for a lump sum cash consideration based on the book value of assets and liabilities of the Instamart Undertaking determined as on the effective date of the Proposed Transfer. The sale, which is expected to be completed after the third quarter of FY 2025-26, will help Swiggy focus on developing a more efficient and strategically aligned corporate entity for the Instamart business.
Key Highlights
- Swiggy Ltd. to sell Instamart business to its subsidiary, Swiggy Instamart Private Limited.
- The deal is valued at INR 21,295.84 Million, representing 24.21% of Swiggy's revenue for FY 2024-2025.
- The sale is expected to be completed after the third quarter of FY 2025-26.
- The transaction is a related party transaction, but the consideration is at arm's length.
- The sale aims to develop a more focused and strategically aligned corporate entity for the Instamart business.