Swiggy eyes up to Rs 10,000 crore fundraising to fuel growth
Swiggy eyes up to Rs 10,000 crore fundraising to fuel growth
Swiggy's board approves raising up to Rs 10,000 crore via QIP or other means to strengthen its balance sheet amid rising competition in food delivery and quick commerce.
Swiggy’s board has approved a plan to raise up to Rs 10,000 crore through public or private offerings, including a Qualified Institutional Placement, in one or more tranches and subject to shareholder and regulatory approvals. The funds would be used to bolster the company’s balance sheet and sustain growth momentum in a highly competitive market where rivals are strengthening their footing. The development follows Swiggy’s indication that it was evaluating fresh fundraising options to support growth and financial flexibility.
Swiggy has been facing intense competition in the quick-delivery space, with peers like Zepto recently raising $450 million at a roughly $7 billion valuation. The company also highlighted a cash balance of Rs 2,400 crore after the sale of its stake in Rapido earlier this year. In the September quarter, Swiggy reported a consolidated net loss of Rs 1,092 crore, widening from Rs 626 crore in the same period last year, even as revenues climbed. The company’s quarterly revenue for Q2 FY26 rose 54.4% year-on-year to Rs 5,561 crore from Rs 3,601 crore a year earlier.
The proposed fundraising is expected to give Swiggy greater financial flexibility as it consolidates its position across food delivery and quick commerce and paves the way for a potential public listing in the future. While topline growth remains robust, profitability concerns persist, and the company will seek to translate revenue gains into a steadier bottom line as competition intensifies.
Cover image source: Swiggy board clears up to Rs 10,000 crore fundraise via QIP; details here 🔗
