Swiggy Launches Rs 10,000 Crore QIP After Shareholder Nod
The raise seeks fresh capital to support quick‑commerce expansion despite widening quarterly losses.
Overview
- The company opened the qualified institutional placement on December 9 after a December 8 EGM approved fundraising of up to Rs 10,000 crore.
- Swiggy shares rose about 2.45% intraday to Rs 395 following the launch of the offer.
- The board had cleared the fundraising plan in November, paving the way for a swift placement.
- Bloomberg reported that Citigroup India, JPMorgan India and Kotak Mahindra Capital were shortlisted to manage the sale.
- For the September quarter, revenue grew 54.4% year on year to Rs 5,561 crore while net loss widened 74.4% to Rs 1,092 crore, with brokers flagging intense quick‑commerce competition from Amazon and Flipkart and the risk of persistent losses.