SBI Mutual Fund Doubles Down On Swiggy, Buys Stock Worth ₹300 Cr

SBI Mutual Fund bolstered its stake in food delivery platform Swiggy by purchasing an additional 1.18 crore equity shares, as per reports. This acquisition brought their total ownership up to 14.16 crore shares, representing a 5.1% stake in the company. Assuming the trades occurred at the day's closing price of ₹253.90, the fund would have invested over ₹300.6 crore to expand its position.

This move pushes SBI Mutual Fund's total holding in Swiggy beyond the mandatory 5% disclosure threshold set by SEBI regulations. Earlier, the fund held a 4.7% stake, with its holding entity SBI Equity Hybrid Fund owning 7.11 crore shares or 2.58% of Swiggy's total equity. As of June 30, 2026, domestic mutual funds collectively owned a 22.8% stake in Swiggy, compared to Eternal's 31.7% shareholding on the same date.

The purchase came a month after Swiggy received shareholder approval to cap foreign ownership at 49.5%, solidifying its status as an Indian-owned and controlled company (IOCC). The new ownership structure will enable Swiggy to pivot its Instamart quick commerce arm to a more inventory-led business model, potentially boosting revenues and margins.

The fund's increased stake aligns with management's plan for Instamart to achieve a 1P (inventory-led) model, which could result in an 80 basis points margin improvement, according to Jefferies. Swiggy's net loss in Q1 FY27 narrowed by 34% year-over-year to ₹791 crore, while operating revenue increased by 36.8% year-over-year to ₹6,812 crore. Instamart managed to reach contribution margin breakeven in the quarter.