Swiggy Transfers Instamart to Subsidiary via Slump Sale; Shareholder Nod Pending

24 Sep 2025 , 09:59 AM

Swiggy Ltd announced that its board has approved the transfer of its quick-commerce arm, Instamart, to Swiggy Instamart Pvt Ltd, an indirect step-down wholly owned subsidiary.

The transfer will be executed through a slump sale and will include all assets, liabilities, employees, intellectual property, and contracts of the Instamart business. The transaction will be carried out on a going-concern basis and is subject to the approval of shareholders, the company said in a regulatory filing.

Instamart contributed 24.2% of Swiggy’s standalone revenue in FY25. As of March 31, its net worth stood at a negative 2.48%. Swiggy will receive a lump-sum cash consideration equivalent to the book value of Instamart’s assets and liabilities on the effective date, which is expected to fall after the third quarter of FY26.

The company noted that the move is intended to create a more focused and strategically aligned entity dedicated to the growth and performance of Instamart, while providing greater flexibility in resource allocation. Swiggy clarified that the transaction will not affect its overall shareholding pattern.

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