Hindustan Composites shares surge on Swiggy stake acquisition announcement

The acquisition is expected to be completed on or before November 30.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Shares of Hindustan Composites Ltd rose over 9 percent in early trade after the company announced its acquisition of a stake in Swiggy Ltd, an Indian online food ordering and delivery platform.

At 10.45 am, shares of Hindustan Composites traded over 6 percent higher at Rs 618. The stock has gained 45 percent in the past six months, outperforming the Nifty 50 index which rose 12 percent during the same period.

Hindustan Composites, on September 2 informed the exchanges that it has entered into a Share Purchase Agreement to acquire 1.50 lakh equity shares of Swiggy, each with a face value of Rs 1, for a total investment of Rs 5.18 crore. This investment represents a 0.01 percent stake in Swiggy on a fully diluted basis.

Follow our live blog for all the market action

Hindustan Composites' acquisition of Swiggy does not constitute a related party transaction. The equity shares acquired are intended to be part of Hindustan Composites' investment portfolio, aimed at achieving both short-term and long-term benefits.

The acquisition is expected to be completed on or before November 30. Hindustan Composites has submitted the necessary disclosures in compliance with the SEBI regulations.

Swiggy, incorporated on December 26, 2013, operates in the food delivery and quick commerce sector, providing services such as online grocery delivery and same-day package deliveries across India. For the financial year ending March 31, 2023, Swiggy reported a turnover of Rs 4,653 crore, a net loss of Rs 3,758 crore, and a net worth of Rs 9,810 crore.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.