Swiggy shares have seen a decent rally since listing and the stock is up more than 35% than its issue price. After today’s fall in Swiggy shares, the stock still trades more than 30% higher from its IPO price.

Swiggy shares experienced a sharp decline on Wednesday, December 11, with the stock falling over 5% in early trade to hit Rs 515.95 on the BSE. This marked a reversal of the gains made in the previous session.

Swiggy shares fell 5% after anchor investors' one-month lock-in ended, with 6.5 crore shares freed for trading. The stock dropped to Rs 515.95 on BSE, reducing Swiggy's market valuation to Rs 1.16 lakh crore.

Shares of food delivery and quick-commerce major Swiggy plunged 5 per cent on the bourses on Wednesday as investors booked profits after the one-month lock-in period for anchor investors expired

Swiggy's shares dropped by up to 4.4% to Rs 519.50 on BSE in the morning session on Wednesday, following the expiry of a mandatory one-month lock-in period. This release unlocked 6.5 crore shares, or 3% of the company's total outstanding shares,

Shares of Swiggy, which debuted on stock exchanges on November 13, trade 33% higher than its IPO price of ₹390.