Launched in October 2024, Bolt offers ready-to-eat meals from partner restaurants within a 2-km radius, promising delivery in 10 minutes. The service now accounts for more than 1 in every 10 orders on the Swiggy platform and has onboarded over 45,000 restaurants, including major QSR chains like KFC, McDonald’s, Subway, Faasos, Burger King, and Curefoods.
“Bolt fits into the way people live today. You’re hungry, you want something now, and you don’t want to compromise,” said Rohit Kapoor, CEO, Swiggy Food Marketplace. “Seeing it scale to 500-plus cities in just a few months has been incredible.”
Swiggy added that Bolt is also proving to be a strong user acquisition and retention lever, with new users acquired via the format showing 4-6% higher monthly retention than the platform average.
The service has rapidly expanded beyond metros into tier II and III cities, signalling Swiggy’s continued bet on ultra-fast delivery despite Zomato’s retreat.
Also Read: 8 Nifty Microcap stocks that can jump 100-230% in the next 12 months
Swiggy shares price target
As per Trendlyne data, the average target price of the stock is Rs 455, which shows an upside of 49% from the current market prices. The consensus recommendation from 21 analysts for the stock is a ‘Buy’.
Also Read: 5 timeless Warren Buffett quotes every investor should know
Swiggy shares price performance
On Friday, Swiggy shares closed at Rs 305 on the BSE, down 3.4%, while the benchmark Sensex surged 0.32%. The stock has declined 44% year-to-date and 30% in the past three months. The company’s market capitalization stands at Rs 69,928 crore.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
