Swiggy Shares Drop Over 5% Due to Instamart Technical Glitch; Stock Falls Over 30% YTD

Swiggy Shares Plunge Over 21% in a Week, 26% in a Month; Stock Drops Over 33% YTD, Falls Below Issue Price

Swiggy Share Price Falls Over 5% Amid Instamart Glitch, Extending Losing Streak

Swiggy’s share price dropped over 5% on Monday, marking its fifth consecutive day of losses. The stock fell as much as 5.77% to ₹359.00 per share on the BSE.

In the past week, Swiggy’s shares have declined by more than 21%, and over the past month, they have dropped more than 26%. Since the start of this year (YTD), the stock has fallen over 33%, slipping below its original issue price.

What Caused the Fall? – Swiggy Instamart Glitch

The recent fall in Swiggy’s share price is linked to a reported technical glitch on Swiggy Instamart. According to claims, some users received up to ₹5 lakh as ‘free cash’ in their accounts due to this error.

A Reddit user named @Technical-Relation-9 shared a post titled, “Someone is definitely losing their job at Swiggy,” claiming that random Instamart users unexpectedly received amounts ranging from ₹4,000 to ₹5,00,000 as free cash. The user also posted screenshots of the transactions.

Many users reportedly placed orders using this unexpected credit, and some even received their deliveries. Later, Swiggy representatives contacted these customers, informing them about the glitch and requesting the return of the delivered items.

The incident sparked widespread discussion online. One person asked, “How are you getting that money? Randomly?” The original poster replied, “Yes, random accounts.”

Some speculated that the glitch happened due to an error in a newly launched offer. A user suggested, “It looks like Swiggy messed up the probability settings in the offer. Instead of giving ₹50 or ₹100 as intended, some people received thousands. Swiggy later fixed the issue, and now users are getting only ₹50 or ₹100.”

As of 10:50 AM, Swiggy’s shares were trading 4.91% lower at ₹362.30 per share on the BSE.