Swiggy Gets Shareholder Nod to Raise ₹10,000 Cr via QIP

Swiggy, a food and grocery delivery service, announced on Monday that it has received approval from its shareholders to raise up to Rs 10,000 crore through a qualified institutional placement (QIP). During the company's first extraordinary general meeting for the current fiscal year (FY26), the shareholders approved video conference fundraising through a special resolution. 

A stock exchange filing stated, "We would like to advise that the resolution as outlined in the notification of November 14, 2025, was passed by the shareholders with the requisite majority." According to the voting analysis, only 0.52 percent of voters opposed the resolution authorizing capital raising through QIP, with 99.47 percent of votes in favor.

Last month, the board of the company approved a plan to raise funds through the QIP method. It is important to note that QIP serves as a mechanism for listed companies to obtain capital from qualified institutional buyers, including mutual funds and insurance firms.

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This process involves the issuance of new shares. In this instance, Swiggy is seeking to raise funds to enhance its quick commerce (qcom) operations while also fortifying its balance sheet.

The company is engaging in fundraising at a moment when competition in the instant-grocery sector is intensifying, with competitors eager to secure capital and broaden their operations.

Notably, Zepto has recently declared the completion of a funding round amounting to approximately $450 million, achieving a valuation of $7 billion. Furthermore, it has transitioned into a public entity in anticipation of its debut on the D-street next year to access public markets.

Additionally, Blinkit, which aims to establish 3,000 dark stores by March 2027, has received an investment of Rs 600 crore from its parent company Eternal, while Innovative Retail, the consumer-facing division of BigBasket, has obtained Rs 200 crore in debt financing from DBS Bank.