Swiggy shares extend gains, rise 2% as Rs 10,000-crore QIP sees strong demand

Swiggy share price

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26 Aug, 2025 12:21

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The shares of Swiggy extended gains for the second consecutive day, rising more than 2 percent as its qualified institutional placement (QIP) saw strong investor interest on December 10.

The shares of the food delivery and quick commerce giant rose to Rs 406.90 apiece, the highest level seen by the stock in nearly two weeks.

Swiggy QIP:

Swiggy on December 8 announced that its shareholders have approved the plan to raise Rs 10,000 crore through a qualified institutional placement (QIP).

Subsequently, Swiggy in an exchange filing released on December 9 said that its board has approved the floor price of Rs 390.51 per equity share. It added that a company may offer a discount of not more than 5 percent on the floor price calculated for the issue.

The QIP opened on December 9. Under the resolution, Swiggy is authorised to issue equity shares to eligible qualified institutional buyers for an amount not exceeding Rs 10,000 crore, giving it a significant war chest to fund expansion across food delivery, Instamart and newer business verticals.

Swiggy QIP sees strong demand:

Swiggy's QIP has drawn over 4x demand from India’s top mutual funds, including SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund and Kotak Mutual Fund, Moneycontrol reported on December 10 morning, citing people familiar with the matter.

Earlier on December 9, Moneycontrol reported citing regulatory filings that nearly half of the QIP proceeds will go into scaling its quick-commerce infrastructure, even as the sector faces intensifying competition and rising questions around sustainability.

The largest portion of the QIP proceeds to the tune of Rs 4,475 crore will be deployed towards expanding and operating Swiggy's quick-commerce fulfilment network, including dark stores and warehouses that power Instamart.

Swiggy plans to expand its fulfilment footprint from 5 million square feet as of November 30, 2025, to around 6.7 million square feet by December 2028.

Swiggy share price:

Swiggy shares have gained nearly 5 percent in the past one month, and around 12 percent in the past six months. The stock is however down more than 25 percent in 2025 so far.

The stock had listed Rs 420 per share on NSE on November 13 last year, marking a premium of nearly 8 percent over the IPO price of Rs 390 per share. The stock then surged more than 58 percent from its IPO price in just over a month to hit a 52-week high of Rs 617.30 apiece in December 2024.

The stock however then dropped nearly 52 percent since then to hit a 52-week low of Rs 297 per share in May this year. The stock has now recovered around 34 percent since then. It is currently around 4 percent higher than the IPO price, but over 3 percent lower than the listing price.

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