Swiggy's Lock-In Expiry to Release INR 3,300 Crore Worth Shares

Swiggy's Lock-In Expiry to Release INR 3,300 Crore Worth Shares

By Manu Vardhan Kannan

Published on February 1, 2025

Swiggy, one of India’s top food delivery platforms, is set to experience a major stock market development as its lock-in period for pre-IPO shares comes to an end. Over the next month, 7.8 crore shares, valued at INR 3,345 crore based on current market prices, will become eligible for trading. This phased unlocking could stir market interest and impact stock liquidity.

The unlocking process will take place in multiple stages. The first batch of 29 lakh shares will be available for trade on January 29, followed by smaller releases of 3 lakh shares on January 31 and 1 lakh shares on February 19. However, the most significant tranche - 6.52 crore shares, accounting for nearly 3 per cent of Swiggy’s total outstanding shares will be unlocked on February 10. The final batch of 96 lakh shares will become tradable on February 24.

The valuation of these shares is based on Swiggy’s latest closing price of INR 428.30 on the BSE. While such a large release of shares could create supply pressure, analysts at Nuvama suggest that the impact might be moderated as a significant portion is held by promoters and institutional investors who may not offload them immediately.

Meanwhile, Swiggy has announced that its board will convene on February 5, 2025, to review and approve its unaudited financial results for the quarter and nine months ending December 31, 2024. This will be the company’s second earnings report since going public.

In its July-September 2024 quarter, Swiggy reported a net loss of INR 625 crore, an improvement from INR 657 crore in the same period last year. However, revenue surged 30 per cent year-on-year, reaching INR 3,601 crore from INR 2,763 crore in Q2 FY24.

Since its IPO in 2024, Swiggy has remained a dominant force in India’s fast-evolving food-tech sector, competing against Zomato and emerging quick-commerce players. With its lock-in expiry approaching, investors are closely watching market reactions and liquidity shifts. Over the past month, Swiggy’s stock has dropped over 21 per cent, including a nearly 3 per cent decline in the last week alone.


Loca Loka Brings Hyderabad’s Hospitality Pioneers Together for ‘Loca(L) Legends

Loca Loka Brings Hyderabad’s Hospitality Pioneers Together for ‘Loca(L) Legends

By Hariharan U

Published on October 28, 2026

Before food apps and reservation waitlists, Hyderabad had a handful of rooms where the city learned to eat out. It also had the people who ran those rooms. Loca Loka has now brought many of these people together for a special evening called Loca(L) Legends.

It was an invitation-only event. Veterans who have run some of the city’s best-loved places for decades shared the floor with the restaurateurs and entrepreneurs who are writing Hyderabad’s next chapter. Together, they hold a history that lives in memories, not in books. The evening was part of Loca Season 1, a six-week, city-wide programme that marks the brand’s launch in Hyderabad under the line “Co-founded by Hyderabad”. The goal was simple: capture these stories before time takes them away.

One object, one story

Every legend came with one item from their establishment’s past. There was an early menu with unbelievable prices, a first-day bill, a faded photograph and a signboard that outlived its street. Each piece became an opening entry in the Loca(L) Legends Archive, a growing record of how Hyderabad learned to eat out and stay out.

The conversation

The evening also had a panel, moderated by Rana Daggubati. The speakers were Arjun Valluri (Founder, Xcess, Extreme Sports Bar and Heart Cup Coffee), Shravan Juvvadi (Founder, Tabula Rasa) and Hemender Reddy (Founder, The Moonshine Project). Their stories had the room nodding in one moment and laughing out loud in the next.

The three represent different chapters in the growth of Hyderabad’s hospitality and entertainment scene. They went beyond venues and balance sheets and spoke about the instincts behind their work. They talked about reading what customers want as it changes, taking risks as an entrepreneur, and building spaces that have helped make Hyderabad a destination for music, dining and experiential entertainment.

There were more fun moments too. “Then vs Now” conversations paired veterans with younger founders to argue over how the city’s evenings have changed. Anonymous confessional cards and a round of “Unwritten Rules” brought out the honesty, humour and friendly disagreement this trade is known for.

This is only the start

The archive will keep growing. Each legend will be filmed at their own establishment, and the stories will be released as a short-form series and a longer documentary edit.

What the founders said

“ Every city has a history that never made it into the books. In Hyderabad, a lot of it was lived in a handful of rooms, run by people who knew every regular by name and the story behind every table. They are the unofficial keepers of the city’s culinary history. Loca(L) Legends was about pulling up a chair, pressing record and making sure those stories outlive the rooms they happened in,” said Rana Daggubati, Co-Founder, Loca Loka.

Sree Harsha Vadlamudi, Co-Founder & CEO, Loca Loka, added, “I’ve been in this industry for over a decade, and the people in that room taught me most of what I know. They understood loyalty long before anyone called it a community strategy. Hyderabad’s hospitality is one of the city’s oldest subcultures, with its own rituals, rivalries and unwritten rules. A season about the city’s obsessions had to make room for the people who built it as we raised a toast to their strength, perseverance, and creativity.”

What’s next

Season 1 now moves from the city’s storytellers to its most permanent ones. Loca Ink takes over Aliens Tattoo, with flash tattooing on synthetic skin, a collective canvas and open conversations with Hyderabad’s tattoo artists.

Loca Season 1 events are open to guests aged 21 and above, by invitation only.

About Loca Loka

Loca Loka is a premium 100% Blue Weber agave tequila co-founded by actor Rana Daggubati, composer Anirudh Ravichander and entrepreneur Sree Harsha Vadlamudi. It was conceptualised in India and is produced in Jalisco, Mexico, under third-generation distillers. The name comes from the Spanish “loca” (crazy) and the Sanskrit “loka” (world). Loca Loka debuted in the United States and Southeast Asia in 2024 and entered India in November 2025. Its Blanco won Gold and its Reposado won Silver at the San Francisco World Spirits Competition 2025. It has also won medals at the New York International Spirits Competition, the Miami World Spirits Competition and the WSWA Wine & Spirits Tasting Competition in Denver


Padma Shri Awardee Chef Damu Passes Away in Chennai

Padma Shri Awardee Chef Damu Passes Away in Chennai

By Manu Vardhan Kannan

Published on October 26, 2026

Renowned chef and television personality Chef K. Damodharan, popularly known as Chef Damu, has reportedly passed away in Chennai at the age of 72, on 25 October 2026. His demise has raised concerns across the culinary and entertainment communities, where he was widely recognised for his contributions to Indian cuisine and television.

Chef Damu became a familiar face among Tamil television audiences through his cooking shows and his role as a judge on Cooku with Comali, broadcast on Star Vijay. His approachable personality, culinary knowledge and interactions with contestants helped him connect with viewers beyond professional kitchens. He also served as the President of the South Indian Chefs Association.

His contribution to the culinary world extended beyond television. In December 2010, Chef Damu achieved a Guinness World Record for the longest cooking marathon by an individual. During the continuous cooking session, he prepared 617 dishes weighing approximately 190 kilograms over 24 hours, 30 minutes and 12 seconds, marking a significant milestone in his culinary career.

In recognition of his contributions to the culinary arts, he received the Padma Shri in 2025, one of India's highest civilian honours. The recognition celebrated his work in the culinary field and his efforts to bring Indian food and cooking traditions to a wider audience.

Chef Damu also made appearances in Tamil films, extending his presence beyond television and the professional culinary world. His career reflected the growing connection between food, entertainment and popular culture, particularly through television programmes that brought cooking into Indian households.

His journey also represented the wider role of chefs in promoting culinary traditions, inspiring aspiring professionals and making food more accessible to audiences. Through his television appearances and professional achievements, he became a recognised personality in Tamil Nadu's culinary landscape.

His sudden demise has sent shockwaves through the culinary world, with condolences pouring in from across the industry.


India Works to Bring Back Umrah Pilgrims Stranded in Saudi Arabia

India Works to Bring Back Umrah Pilgrims Stranded in Saudi Arabia

By Manu Vardhan Kannan

Published on October 23, 2026

India has stepped up efforts to help stranded Umrah pilgrims return from Saudi Arabia amid the regional security situation. The Ministry of External Affairs (MEA) said the Indian Embassy in Riyadh and the Consulate General in Jeddah are coordinating with airlines and tour operators to arrange the early return of affected pilgrims.

MEA spokesperson Randhir Jaiswal said around 3,000 stranded Umrah pilgrims had travelled from Saudi Arabia to India over the past week on available flights. This was in addition to more than 10,000 other Umrah pilgrims who had returned on flights booked as part of their regular travel arrangements during the same period.

The efforts follow an attack on King Fahd International Airport in Dammam, which left one Indian national dead and two others injured. The incident has raised concerns among Indian nationals in the region as the wider security situation affects travel arrangements.

Earlier, AIMIM president Asaduddin Owaisi urged the Centre to intervene, stating that around 4,000 Indian pilgrims were stranded in Makkah and Madina after airlines suspended flights to Saudi Arabian cities amid regional security concerns.

In a post on X, MEA spokesperson Randhir Jaiswal said, “Our Embassy in Riyadh @IndianEmbRiyadh and the Consulate in Jeddah @CGIJeddah are actively engaging with concerned airlines and tour operators to facilitate the early return of affected pilgrims.”

He added, “Over the past week, about 3,000 stranded Umrah pilgrims have travelled from Saudi Arabia back to India on available flights. This is in addition to more than 10,000 normal Umrah pilgrims who were booked on the available flights and have travelled back to India over the past week.”

Jaiswal also said that arrangements were being discussed to facilitate the return of the remaining Umrah pilgrims at the earliest. The Indian Embassy and Consulate, with support from community volunteers, are providing welfare assistance to Indian nationals in need.

The MEA has also established 24×7 control rooms to assist Indian nationals and is issuing regular advisories to share updates and relevant information.

24×7 Control Room Contact Details

Embassy of India, Riyadh

  • Telephone: +966-554412016

  • Telephone: +966-542126784

  • Toll-free: 8002471234 (Calls from within Saudi Arabia only)

  • WhatsApp: +966-536216082 (Messages only)

Consulate General of India, Jeddah

  • Telephone: +966-12-2614093

  • Telephone: +966-556122301

  • WhatsApp: +966-536209704 (Messages only)

Indian pilgrims and their families can use these official contact channels for assistance and updates. The Indian authorities continue to coordinate with airlines, tour operators and local community volunteers to support affected travellers and facilitate their return as soon as possible.

Stay up-to-date with the latest Hospitality news and trends in the Hospitality industry!

Subscribe to Hospitality news e-magazine for free and never miss an issue.

By clicking subscribe for free you agree to the Terms & Conditions and acknowledge our Privacy Policy.

Advertise With Us

We have various options to advertise with us including Events, Advertorials, Banners, Mailers, etc.