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.

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.

Shares of Swiggy have risen 40% since it made its stock market debut last month from its IPO price of ₹390 per share.