Broker maintains Reduce on Swiggy with ₹250 target, flags Instamart valued at zero
Swiggy (CMP ₹273.10) draws a Reduce call with a ₹250 target as foreign shareholding slips to 49.76%, nearing the 50% threshold toward IOCC status. Instamart's shift to an inventory-led model is likely pushed to April 2027, and the broker ascribes zero value to the quick-commerce arm. Backed by ₹15,000 crore cash.
Broker maintains Reduce on Swiggy with ₹250 target as foreign shareholding falls below 50%, a step toward IOCC status. Instamart's shift to inventory-led model likely delayed to April 2027; Instamart valued at zero.