Swiggy’s Rs 10,000 crore QIP will take off after shareholders approved the fundraising. Here’s everything you need to know

Swiggy’s Rs 10,000 crore qualified institutional placement (QIP) offering opened on Tuesday, December 9, a day after the food delivery and quick-service giant’s shareholders approved the fundraising plan with overwhelming support.In a regulatory filing on December 8, Swiggy announced that the special resolution was passed at the extraordinary general meeting (EGM), with 99.47% of votes cast. About 76.40% of shareholders participated in the vote, paving the way for the launch of QIP.

The capital raise is aimed at strengthening Swiggy’s balance sheet as competition intensifies in India’s fast-growing high-speed commerce sector. As rivals Blinkit and Zepto continue to invest aggressively, Swiggy is looking to strengthen funds to support growth in verticals such as food delivery, Instamart and newer ventures.

Here’s what you need to know:

First fundraising since IPO

This will be Swiggy’s first equity fundraise since its November 2024 IPO, when it had raised Rs 4,500 crore at an issue price of Rs 390 per share. By the September 2025 quarter, the company had already used more than 80% of its IPO proceeds, largely on losses and expansion of its Instamart supermarket business.

According to estimates, the QIP will result in share dilution of more than 10% at Monday’s closing price.

Why a QIP now?

The fundraising takes place during a period of increased capital expenditure in the quick-commerce segment. Swiggy’s peers have also boosted their cash reserves: Blinkit raised Rs 600 crore earlier this year, taking its 2025 total to Rs 2,100 crore, while Zepto secured $450 million in its latest funding round.

In the September quarter, Swiggy reported a cash burn of Rs 740 crore – higher than Blinkit parent Zomato’s Eternal division, which reported Rs 543 crore. The company said the increased spending was a strategic decision to meet growing demand faster than initially expected.

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Use of QIP Proceeds

Swiggy has clarified that the QIP proceeds will be used to strengthen the balance sheet, support growth initiatives and fund investments across the ecosystem. The company also recently monetized its stake in Rapido, boosting liquidity ahead of the institutional share sale.

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