Food delivery company Swiggy's board approves Rs 10,000 crore fundraise via QIP

Food and grocery delivery company Swiggy said that its board has approved plans to raise up to Rs 10,000 crore through qualified institutional placement (QIP) or other equity routes, as the company looks to strengthen its balance sheet and fund expansion across its food delivery and quick-commerce businesses.

The proposed capital raise, approved at the company’s board meeting on November 7, will be executed through one or more tranches, subject to shareholder approval. Swiggy said the funds could be raised through public or private offerings, including equity shares or other instruments permitted under applicable laws.

“We wish to inform that the Board of Directors...approved the raising of funds by way of public or private offerings including, through one or more tranches, by way of qualified institutions placement or any other permitted modes under applicable laws of equity shares or through any other permissible mode to the eligible investors as may be permitted, for an aggregate amount of up to Rs 10,000 crore, subject to the receipt of necessary approvals including approval of the shareholders of the Company and other regulatory / statutory approvals, as may be required, in this regard,” Swiggy said in the exchange filing.

Swiggy earlier said the additional funds will enhance its “strategic flexibility” and support “new experiments” in food delivery and quick commerce.

For the quarter ended September 2025, Swiggy reported a consolidated net loss of Rs 1,092 crore, widening from Rs 626 crore a year earlier. Operating revenue, however, rose sharply to Rs 5,561 crore from Rs 3,601 crore in the same period last year.

Swiggy’s plan follows a similar move by rival Zomato, which raised Rs 8,500 crore through a QIP last year to bolster its capital reserves.