The company notes that the slump sale is likely to be completed by the end of the third quarter of the current financial year
The board of the food delivery and instant grocery platform Swiggy has given approval for the sale and transfer of its quick commerce business through a slump sale to an indirect, step-down wholly owned subsidiary, Swiggy Instamart.
The company said that the slump sale is likely to be completed by the end of the third quarter of the current financial year. In an exchange filing, the company noted that the sale includes all relevant assets, permits and licenses, liabilities, records, intellectual property, employees and contracts.
“The board of the company has approved the slump sale of the Instamart undertaking of the company on 23 September 2025, including authority to directors/ officers of the company to enter into a business transfer agreement (BTA) and other related documents to give effect to the transaction,” the company added.
The completion of the slump sale of the Instamart undertaking shall be subject to prior consent of the members of the company and completion of other customary conditions precedent in accordance with the terms of the BTA.
In a separate development, Swiggy approved the sale of its holding in bike-taxi operator Rapido through two separate transactions totalling Rs 2,399 crore. According to an exchange filing, the food delivery company will divest shares worth Rs 1,968 crore to Netherlands-based MIH Investments, while another Rs 431 crore worth of shares will be transferred to Setu AIF Trust.
