Swiggy Board Approves ₹10,000 Crore Fundraise via QIP to Fuel Growth and Innovation

Indian food and grocery delivery platform Swiggy has announced that its board has approved plans to raise up to ₹10,000 crore ($1.14 billion) through a Qualified Institutional Placement (QIP), as the company looks to strengthen its capital base and accelerate growth across its business lines.

The QIP route allows companies to raise funds from large institutional investors such as mutual funds, insurance firms, and foreign institutional investors. Swiggy’s decision comes amid intense competition in India’s fast-growing food delivery and quick commerce sector, where players are aggressively investing in expansion, logistics, and technology to capture market share.

The move follows Swiggy’s October 30 statement, in which the company said the additional capital would bolster its cash reserves, supporting both growth initiatives and new experiments in its food delivery and quick commerce businesses. Quick commerce — promising deliveries within minutes — has become a key battleground, with rivals Blinkit (owned by Zomato’s parent Eternal) and Zepto also ramping up investments in warehouses and customer acquisition.

Despite being loss-making, Swiggy has been strategically optimizing its operations to improve financial efficiency. In September, the company sold its entire stake in ride-hailing firm Rapido for approximately $270 million, a move that significantly strengthened its balance sheet. It has also slowed the pace of warehouse expansion, aiming to improve margins while maintaining service quality.

The fresh capital infusion through the proposed QIP is expected to provide Swiggy with greater flexibility to pursue sustainable growth, explore new revenue streams, and continue innovating in one of India’s most dynamic consumer technology sectors.