IPO Bound Flipkart Eyes Food Delivery: Eternal and Swiggy Share Price Fall up to 3%

Eternal (parent of Zomato) and Swiggy saw their share prices decline on February 12, 2026, following news that Flipkart, which is preparing for an IPO, is assessing entry into the online food delivery sector, as per The Economic Times report. 

Share price reaction to Flipkart food delivery plans 

At 10:25 am on February 12, 2026, Eternal shares were trading 1.6% lower at ₹295.9 each, while Swiggy shares fell 3% to ₹331.75 each.  

The movement occurred after a report indicated that Flipkart may run a pilot in Bengaluru during May‑June and consider a wider rollout by late 2026 or early 2027. 

Flipkart's evaluation of a food delivery entry 

Flipkart is exploring 2 options: building a standalone platform or launching a buyer‑side application on the government‑backed Open Network for Digital Commerce (ONDC).  

The company has already begun assembling a team for the initiative and is leveraging its quick commerce arm, Minutes, which operates more than 800 dark stores and is expanding its micro‑warehouse network. 

Read More: IPO Bound Flipkart Names Vipin Kapooria, Yogita Shanbhag as Vice Presidents! 

Impact on the Indian food delivery market 

The Indian food delivery market is estimated at $9 billion in fiscal year 2025 and projected to reach $25 billion by fiscal year 2030.  

Zomato and Swiggy currently dominate the space after several smaller players exited. A new entrant with Flipkart’s logistics capability could increase competition, especially in dense urban areas where speed and reliability are critical. 

Conclusion 

The announcement of Flipkart’s potential food delivery venture prompted a modest decline in Eternal and Swiggy share prices. The move highlights the strategic interest of a major e‑commerce platform in diversifying its services within a rapidly growing market. 

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