Swiggy Completes INR 10,000 Crore Qualified Institutions Placement
Filing Summary
Swiggy Limited has completed a Qualified Institutions Placement (QIP) raising INR 10,000 crore. The placement involved equity shares priced at INR 375 per share, a 4% discount to the floor price of INR 390.5. The QIP attracted participation from over 80 global and domestic institutional investors, including mutual funds and insurance companies. Proceeds will fund Swiggy’s quick commerce network expansion, technology investments, and brand marketing. The transaction is one of the largest in the Indian consumer tech sector and the second-largest QIP by a non-banking company in India.
Swiggy Limited has successfully completed a Qualified Institutions Placement (QIP) of equity shares, raising INR 10,000 crore. The placement was conducted between December 9, 2025, and December 12, 2025. The equity shares were issued at an Issue Price of INR 375 per share, which represents a 4% discount to the floor price of INR 390.5 per share. This pricing was determined in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.
The QIP attracted strong interest from a diverse group of institutional investors. Over 80 investors participated, with allocations made to 61 investors, including more than 15 new shareholders. The placement saw participation from 21 mutual funds, including major funds such as SBI MF, ICICI Prudential MF, and HDFC MF. Additionally, eight domestic insurance companies, including ICICI Prudential Life Insurance and HDFC Life Insurance, were involved. Key global investors such as Capital Group, Government of Singapore (GIC), and BlackRock also participated.
The proceeds from the QIP will be utilized for several strategic initiatives. Swiggy plans to invest in the expansion and operations of its quick commerce fulfillment network, which includes dark stores and warehouses. Further investments will be made in technology and cloud infrastructure. The funds will also support brand marketing and business promotion to enhance platform visibility. Additionally, Swiggy intends to fund inorganic growth through potential acquisitions and for general corporate purposes.
The transaction is notable for being one of the largest in the Indian consumer tech space and the second-largest QIP by a non-banking company in India. The successful completion of this QIP underscores the confidence of institutional investors in Swiggy’s business model and growth strategy.
Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, and Citigroup Global Markets India Private Limited acted as the Book Running Lead Managers for the QIP. Cyril Amarchand Mangaldas served as the Legal Counsel to Swiggy, while AZB & Partners and Latham & Watkins were the Legal Counsels to the Book Running Lead Managers.
Swiggy Limited is a consumer-first technology company offering an integrated platform for food delivery and quick commerce. Founded in 2014, Swiggy collaborates with over 2.6 lakh restaurants across more than 700 cities. Its quick commerce platform, Instamart, operates in 128 cities, delivering groceries and essentials. Swiggy continues to innovate by integrating new services like Swiggy Dineout and Swiggy Scenes into its app, and by creating standalone offerings like Snacc, Toing, and Crew.