Swiggy’s ₹10,000 Cr QIP Opens Today After Shareholders Give Approval

Swiggy’s qualified institutional placement (QIP) of up to ₹10,000 crore will open on December 9, following shareholder approval at an extraordinary general meeting on December 8.

The company said 76.40% of shareholders participated in the vote, with an overwhelming 99.47% supporting the proposed equity issuance.

Swiggy plans to use the fresh capital to strengthen its balance sheet, accelerate growth initiatives and expand its core food-delivery and Instamart quick-commerce businesses. The company is also expected to explore broader strategic investments using a portion of the proceeds.

As part of the QIP process, management will engage long-only funds and global institutional investors to anchor demand for the issue.

QIP Timing

Swiggy’s fundraise comes amid an intensifying race in India’s quick-commerce market, where rivals such as Zepto and Blinkit have also been raising capital to scale dark-store networks and inventory capabilities. The large war chest is reportedly intended to secure market share and defend rapid geographic expansion as competition stays capital-intensive.

The timing follows a quarter in which Swiggy posted strong top-line growth but widened losses: in Q2 FY26 the company reported consolidated revenue of about ₹5,561 crore while net loss widened to roughly ₹1,092 crore, underscoring the capital intensity of its growth strategy. Management has previously said proceeds from a major capital raise would be used as “growth capital” and to shore up strategic reserves.

Use of Proceeds

With shareholder approval in place, Swiggy is authorised to begin outreach to eligible institutional buyers and set pricing through book-building. Market reaction and investor appetite for the QIP, particularly around valuation and dilution, will determine how quickly the company can close the transaction and deploy funds.

The QIP will materially increase Swiggy’s financial flexibility at a moment when quick-commerce scale, unit-economics improvements and path-to-profitability targets are central to investor scrutiny. How effectively Swiggy converts the capital into profitable growth, especially for Instamart, will shape competitive dynamics across India’s food and grocery delivery market.