Swiggy Shares Surge 12% as Company Bets on Bolt, Zomato Exits 10-Minute Delivery

Swiggy’s Bolt Service Expands to 500 Cities, Fueling Surge in Stock Price

Shares of Swiggy saw a sharp increase of 12 percent on May 5 after the company announced a significant expansion of its 10-minute delivery service, Bolt. The surge in Swiggy’s share price was also fueled by Zomato’s decision to exit the 10-minute food delivery segment with its service ‘Quick’.

Bolt, which was launched in October 2024, has now expanded to over 500 cities across India, with Swiggy reporting that it powers one in every 10 food delivery orders within just six months of its launch. The service has experienced strong demand not only in metro cities but also in Tier 2 and Tier 3 towns, operating with a network of more than 45,000 restaurant brands.

Highlights:

• Swiggy’s Bolt expands to over 500 cities.

• Bolt now powers 1 in 10 food delivery orders on Swiggy.

• Strong demand in both metro cities and Tier 2/Tier 3 towns.

Bolt’s Operational Intelligence and Menu Focus

According to Swiggy, Bolt is a breakthrough in operational intelligence, utilizing smart backend optimization and offering a curated menu of high-demand, quick-serve items that require minimal or no preparation time. With a delivery radius of just 2 km, the service maintains a focus on quality while ensuring reliable delivery. Popular quick-service restaurant (QSR) brands like KFC, McDonald’s, Subway, Faasos, Burger King, and Curefoods are already live on the platform, alongside a growing number of local favorites.

Highlights:

• Smart backend optimization for faster deliveries.

• Bolt offers a curated menu with minimal prep time.

• 2 km delivery radius to ensure quality and reliability.

• Includes popular QSR brands and local favorites.

Swiggy’s Bolt Continues to Scale, CEO Rohit Kapoor Comments

Swiggy’s Food Marketplace CEO, Rohit Kapoor, emphasized that the growth of Bolt is just the beginning. “It’s hard not to love Bolt when your food arrives faster, hotter, and just the way it’s meant to be enjoyed. What makes it click isn’t just speed, but the operations behind the scenes that make it all work,” he said. Kapoor also noted that the service aligns with modern consumer needs, offering food for people who are hungry and want it immediately without compromising on quality.

The expansion of Bolt to 500 cities within such a short period is seen as a major achievement for the company, indicating the service’s strong market adoption.

Highlights:

• Bolt designed for modern consumer needs.

• Focus on speed and operational excellence.

• 500+ cities reached in a few months.

Zomato Exits 10-Minute Delivery with ‘Quick’ Service

Meanwhile, Zomato, a primary competitor to Swiggy, announced its decision to shut down its 10-minute food delivery service, Quick, along with its home-style meal delivery service, Everyday, following its Q4 results. Zomato’s CEO, Deepinder Goyal, explained that the company could not find a path to profitability within these segments. The decision to shut down Quick was based on the challenge of achieving consistent customer experience due to inadequate restaurant density and kitchen infrastructure for 10-minute deliveries.

“The current restaurant density and kitchen infrastructure are not set up for delivering orders in 10 minutes, which leads to inconsistent customer experience,” said Goyal, adding that the company did not see any incremental demand while running Quick as an experiment.

Highlights:

• Zomato exits the 10-minute food delivery segment.

• CEO Deepinder Goyal cites profitability issues.

• Challenges with restaurant density and kitchen infrastructure for 10-minute deliveries.

Impact of Zomato’s Exit on Swiggy’s Stock Price

The announcement of Zomato’s exit from the 10-minute delivery service may have further boosted Swiggy’s stock, as investors speculate about the company gaining market share in the segment. Despite the significant rise in Swiggy’s share price, it is worth noting that the stock has fallen over 37 percent in 2025 so far.

Highlights:

• Zomato’s exit from the 10-minute delivery segment may benefit Swiggy.

• Swiggy shares rise by 12%, despite 37% drop in 2025.