Swiggy shares slide over 2% after FSSAI issues 9 notices over consumer complaints

Shares of food delivery major Swiggy fell. 5% to an intraday low of Rs 266 on the BSE on Monday after the Food Safety and Standards Authority of India (FSSAI) issued nine notices to its quick commerce arm, Swiggy Instamart, over multiple consumer complaints alleging violations of the Food Safety and Standards Act, 2006.

With Monday’s decline, Swiggy shares have dropped over 4% over the last two trading sessions.

The notices, issued on Saturday, require Swiggy Instamart to submit a detailed explanation and a compliance report. The regulator said failure to comply could result in appropriate legal action.