Swiggy Ltd's Board of Directors has approved a plan to raise up to Rs 10,000 crore through Qualified Institutional Placements (QIP) or other permitted modes, including public or private offerings, in one or more tranches. The decision, announced via a stock exchange filing on November 7, 2025, aims to bolster the company's financial flexibility amid intensifying competition in India's quick-commerce sector. Funds will primarily serve as a strategic reserve while supporting expansion of the Instamart quick-commerce arm and incubating new business innovations, as stated by Chief Financial Officer Rahul Bothra.

The fundraising comes as Swiggy navigates a highly competitive landscape, with rivals like Zomato-owned Blinkit and Zepto aggressively expanding their dark store networks and attracting substantial investments. Bothra noted in an interview that heightened sector investments from both established and emerging players necessitated additional growth capital. Swiggy recently divested its stake in ride-hailing platform Rapido for approximately Rs 2,400 crore, adding to its cash reserves, which stood at Rs 4,605 crore as of September 30, 2025. The proposed raise requires shareholder and regulatory approvals but underscores Swiggy's proactive stance in a market where quick-commerce gross order value (GOV) for Instamart surged 108% year-on-year to Rs 7,022 crore in Q2.

Financially, Swiggy reported robust growth in its September quarter results, with consolidated revenue rising 54.4% year-on-year to Rs 5,561 crore. However, net losses widened to Rs 1,092 crore from Rs 554 crore in the prior year, driven by increased advertising, sales promotion expenses, and ongoing investments in quick commerce. Operating losses (EBITDA) expanded to Rs 798 crore, reflecting the capital-intensive nature of scaling dark stores and customer acquisition. Despite these challenges, brokerages like Nomura maintained a 'Buy' rating, citing strong momentum in both food delivery and Instamart segments.

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This potential Rs 10,000 crore infusion positions Swiggy to sustain its growth trajectory in a sector projected for rapid expansion, even as it balances profitability goals. The move follows similar large-scale fundraises by competitors, such as Eternal's Rs 8,500 crore QIP in 2024, highlighting the ongoing capital arms race in Indian quick commerce. As Swiggy prepares for an extraordinary general meeting to secure shareholder approval, the fundraising is expected to enhance strategic options without immediate plans for further capital raises post this round.

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