Swiggy QIP fundraise: Online food delivery platform Swiggy is going to raise funds of up to Rs 10,000 crore. The Board of Directors of Swiggy Limited has approved the plan to raise up to Rs 10,000 crore through Qualified Institutional Placement (QIP) and other means.
Swiggy has received board approval to consider multiple modes of raising funds primarily through public and private placement, said an exchange filing on Friday. For this, the company will also take approval from the common shareholders, for which an extraordinary general meeting (EGM) will be held through video conferencing.
Why did the company take this decision?
This fund raising is happening at a time when the company is facing tough competition from its rivals like Blinkit and Zepto in the quick commerce segment, hence Swiggy is going to take this step to strengthen its position and balance sheet in comparison to them.
Swiggy’s Chief Financial Officer (CFO) Rahul Bothra had said in an interview to NDTV Profit, we have seen continuously increasing investment in this sector. As both old and new players continue to attract more and more investment, we want the flexibility to raise this growth capital. He further said, “Some of this will be strategic reserves, which we will be able to invest in the growth of our quick commerce business, as well as some innovations that we will continue to do in our business.”
September quarter results
Swiggy’s loss in the second quarter of the financial year 2025-26 increased to Rs 1092 crore from Rs 626 crore in the same quarter last year. However, during this period, operational revenue increased from Rs 3601 crore in the July-September quarter last year to Rs 5561 crore this year. Brokerage firm Motilal Oswal estimates 20-22 percent revenue growth in the financial year 2026-27 and maintains ‘buy’ rating with a target price of Rs 550.
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