Food delivery major Swiggy has announced that its board will meet on November 7 to consider raising up to ₹10,000 crore through one or more funding routes. The potential capital raise may include qualified institutional placement (QIP), public or private offerings, or other mechanisms permitted under current regulations.
According to the company’s filing with the BSE and NSE, the proposal—if approved—will be executed in one or more tranches and remain subject to regulatory and shareholder approvals. The move is aimed at strengthening Swiggy’s balance sheet as it continues to expand across business segments.
Expanding Beyond Food Delivery
Backed by SoftBank and Prosus, Swiggy has diversified beyond food delivery with its Instamart grocery service and other quick commerce initiatives. The fresh capital is expected to support these growth verticals as the company focuses on improving profitability following its stock market debut.
Financial Performance
For the September quarter, Swiggy reported a net loss of ₹1,092 crore, compared to ₹626 crore a year earlier. However, revenue surged 54% year-on-year to ₹5,561 crore, driven by strong growth in order volumes and an expanding customer base.
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