India, July 3 -- In a major block deal today, Citigroup Global Markets sold around 3,20,421 shares of foodtech major Swiggy at a price of INR 381 per share. BNP Paribas Financial Markets stepped in as the buyer, picking up the entire lot in a single transaction.

The total deal value stood at approximately INR 122.08 Cr. This is a discount of 1.3% per share from today's closing price of INR 386.05. Swiggy's market capitalisation stood at INR 96,267.24 Cr at the close of trading on Thursday.

This deal comes on the heels of the company closing down underperforming non-core initiatives like Swiggy Minis (its D2C SaaS platform) and Swiggy Genie (its hyperlocal delivery service).

Notably, Swiggy's "platform innovations" segment, has seen abo...