Swiggy’s Rs 10,000 crore QIP kicks off after shareholders clear fundraise. Here's all you need to know

Swiggy’s Rs 10,000-crore qualified institutional placement (QIP) offer opened on Tuesday, December 9, a day after shareholders of the food delivery and quick-commerce major approved the fundraising plan with overwhelming support.

In a regulatory filing on December 8, Swiggy announced that the special resolution was passed during its extraordinary general meeting (EGM), with 99.47% of the votes cast in favour. Around 76.40% of shareholders participated in the vote, clearing the path for the QIP launch.

The capital raise is aimed at strengthening Swiggy’s balance sheet as competition heats up in India’s fast-growing quick-commerce space. With rivals Blinkit and Zepto continuing to invest aggressively, Swiggy is looking to shore up funds to support growth across verticals such as food delivery, Instamart, and newer ventures.

Here’s what you need to know:

First fundraise since IPO

This will be Swiggy’s first equity fundraising since its November 2024 IPO, when it had raised Rs 4,500 crore at an issue price of Rs 390 per share. By the September 2025 quarter, the company had already utilised more than 80% of its IPO proceeds, largely towards losses and expansion at its grocery arm, Instamart.

At Monday’s closing price, the QIP is expected to result in an equity dilution of over 10%, according to estimates.

Why a QIP now?

The fundraising comes amid a period of heightened capital expenditure across the quick-commerce segment. Swiggy’s peers have also been ramping up their cash reserves — Blinkit raised Rs 600 crore earlier this year, taking its 2025 tally to Rs 2,100 crore, while Zepto secured $450 million in its latest funding round.

In the September quarter, Swiggy reported a cash burn of Rs 740 crore — higher than Blinkit parent Zomato’s Eternal division, which reported Rs 543 crore. The company said the increased spend was a strategic decision to meet growing demand faster than initially anticipated.

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Use of QIP proceeds

Swiggy has clarified that the QIP proceeds will be used to strengthen its balance sheet, support growth initiatives, and fund investments across its ecosystem. Recently, the company also monetised its stake in Rapido, boosting liquidity ahead of the institutional share sale.

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