Tencent sells 5.43cr Swiggy shares for about ₹982cr in deal
Business
Big move in the food delivery world: Tencent has sold all its shares in Swiggy for about ₹982 crore, officially ending its investment in the company.
The deal saw 5.43 crore shares change hands at ₹180.65 each, and several big institutional investors quickly snapped up large chunks of those shares.
Swiggy stock dips 4.67% to ₹176.6
With so many shares hitting the market, Swiggy's stock price dipped by 4.67%, closing at ₹176.6, pretty close to its all-time low.
High trading volumes showed just how much attention this exit grabbed from investors and market watchers alike.