Food and grocery delivery firm Swiggy on November 7 said its board approved plans to raise up to Rs 10,000 crore through qualified institutional placement (QIP) as it seeks to shore up capital for growth.
Companies use the QIP route to raise funds from large institutions such as mutual funds.
"...the Board of Directors of the Swiggy Limited at its Meeting held today, i.e., Friday, 7th November, 2025, has inter-alia, considered and 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," said Swiggy in a stock exchange filing.
Loss-making Swiggy and its quick commerce rivals, Eternal's Blinkit and start-up Zepto, have been spending heavily on warehouses and customer acquisition as they seek to raise market share in one of India's fastest-growing industries.
The company had said on October 30 that the fundraise would bolster cash reserves, helping drive growth as well as fund "new experiments" in quick commerce and food delivery.
In September, Swiggy sold its entire stake in ride-hailing platform Rapido for about Rs 2,400 crore, further strengthening its balance sheet. It has also slowed down the pace of warehouse expansion to improve margins.
On November 7, Swiggy shares on NSE closed 0.5% lower at Rs 402 apiece.
"The external competitive environment is dynamic, and legacy and new players continue to attract investments to the sector. This has necessitated a conversation with the board to consider an additional fund raise which will give us access to sufficient growth capital while enhancing our strategic flexibility," said Swiggy last month.
The firm reported widening of consolidated net loss to Rs 1,092 crore for the second quarter ended September 2025, on continuing losses from the quick commerce segment and increase in the company's advertising and sales spend.
The food delivery and quick commerce firm had reported a net loss of Rs 626 crore for the year-ago period.
However, revenue from operations increased to Rs 5,561 crore from Rs 3,601 crore a year ago, a regulatory filing to the exchanges showed.
With inputs from Agencies
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