swiggy share price: Swiggy plunges 6% to 52-week low after lock-in expiry unlocks 83% shareholding
Swiggy shares slid 6.4% to their 52-week low of Rs 300 on the BSE on Tuesday, May 13, as approximately 83% of the company’s shareholding became eligible for trade for the first time, according to a report by domestic brokerage firm JM Financial.
According to JM Financial, the lock-in period, which ended on May 12, has made this sizable portion of Swiggy’s shareholding tradable, raising concerns of potential selling pressure.
The influx of newly tradable shares raises the risk of large-scale offloading, as early investors and insiders may look to capitalize on their holdings. The expiry of Swiggy’s significant pre-IPO shareholder lock-in could trigger heightened volatility in the stock.
JM Financial had earlier estimated that even if…
