Swiggy gets shareholder nod to raise Rs 10,000 Cr via QIP

Food and quick commerce major Swiggy has secured shareholder approval to raise up to Rs 10,000 crore via a Qualified Institutional Placement (QIP), opening the door to one of the largest equity raises by an internet-era company in India. 

The special resolution was passed at an Extraordinary General Meeting (EGM) held on December 8, after the board had cleared the proposal on November 7.  According to the stock exchange filing, 99.47% of votes cast were in favour of the plan. With this approval in place, the issuance can proceed as soon as this week. 

The Rs 10,000 crore infusion will be used to bolster Swiggy’s capital base and accelerate growth across its core food delivery business and its quick-commerce arm Instamart. With competition heating up in the instant-grocery segment, from the likes of Blinkit and Zepto, Swiggy needs a substantial war chest for warehousing, dark stores, logistics, and customer acquisition. 

At the current trading price, the fresh issue could result in over 10% equity dilution for existing shareholders. This marks Swiggy’s first major capital raise since its IPO in November 2024, when it raised roughly Rs 4,500 crore. 

Recently, Swiggy reported that its losses widened 74% year-on-year to Rs 1,092 crore in Q2 FY26, while Instamart’s revenue doubled during the same period. The company’s operating revenue surged 23% to Rs 3,760 crore in the quarter, driven by higher order frequency and quick-commerce traction.

Meanwhile, the Bengaluru-based company also exited Rapido, securing Rs 2,399.5 crore and yielding over a 2.5X return on its investment made less than four years ago.

With market conditions and investor demand permitting, the QIP could be launched imminently. If successful, it would provide Swiggy with the financial leverage needed to accelerate scale in both food delivery and quick commerce, though the dilution may also test the patience of existing retail investors.