Swiggy, the Bengaluru-based food delivery and quick-commerce major, is preparing to raise up to ₹10,000 crore through a qualified institutional placement (QIP) as it seeks to strengthen its balance sheet and maintain a competitive edge in India’s rapidly expanding on-demand economy.
The company announced that its board of directors will meet on November 7 to discuss and approve the proposed fundraising plan.
The capital raise, one of the largest by an Indian internet company in recent months, is expected to give Swiggy fresh financial muscle to scale its food delivery and grocery delivery platform, Instamart.
According to reports, the funds will likely be deployed toward technology development, delivery network expansion, marketing, and improving profitability metrics across business segments.
Swiggy stated that the board will consider raising funds “through one or more qualified institutions placement or any other permitted modes under applicable laws, for equity shares or securities up to ₹10,000 crore, in one or more tranches.”
While the company did not specify the size or structure of the offering, industry observers believe that Swiggy is seeking to build a cash buffer ahead of its planned public listing next year.
The move comes as Swiggy faces mounting competition from Zomato in food delivery and from emerging quick-commerce players such as Zepto and Blinkit.
The quick-commerce space has become a major growth driver for Swiggy through Instamart, which has seen strong adoption across metro and tier-1 cities but continues to operate at thin margins.
Analysts say that in this environment of aggressive expansion, liquidity will be critical for maintaining delivery efficiency and customer retention.
Financially, Swiggy has shown strong revenue momentum but remains loss-making.
For the quarter ended September 2025, the company reported a consolidated revenue increase of 54 percent year-on-year to ₹5,561 crore, though its net loss widened to ₹1,092 crore from ₹626 crore in the same period last year.
Despite this, Swiggy’s leadership maintains that the company is on track toward sustainable profitability as it continues to optimize costs and leverage economies of scale.
The fundraising plan follows a period of portfolio reshaping, including the recent ₹2,400 crore divestment of Swiggy’s stake in bike-taxi startup Rapido.
That move was aimed at sharpening focus on the company’s core businesses while generating liquidity for expansion and operational needs.
If approved, the QIP will provide Swiggy additional financial flexibility to pursue growth and potentially reduce dependence on external venture capital funding.
The company’s decision also aligns with a broader trend of late-stage startups tapping equity markets for capital amid volatile private funding conditions.
Market analysts expect investor interest in Swiggy’s QIP to be robust, given the company’s strong brand presence, diversified offerings, and growing customer base.
However, they also caution that investor appetite will depend on Swiggy’s ability to demonstrate a credible pathway to profitability and operational discipline.
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