Food delivery giant Swiggy has successfully raised ₹10,000 crore through a Qualified Institutional Placement (QIP), marking one of the largest fundraising exercises in India’s consumer tech sector this year. The issue saw strong participation from leading institutional investors, including ICICI Prudential Mutual Fund, SBI Mutual Fund, and Aditya Birla Sun Life, underscoring investor confidence in Swiggy’s long-term growth prospects.
The funds are expected to be deployed towards expanding Swiggy’s quick-commerce arm, Instamart, strengthening its core food delivery operations, and investing in technology upgrades to enhance customer experience. Industry experts note that the capital infusion comes at a crucial time, as competition in the quick-commerce space intensifies with rivals such as Zomato’s Blinkit and Zepto aggressively scaling operations.
Swiggy’s management highlighted that the QIP will also help the company reduce debt and improve financial resilience, positioning it strongly ahead of a potential public listing. Analysts believe the move signals Swiggy’s intent to consolidate market leadership while preparing for the next phase of growth in India’s rapidly evolving digital economy.
