Swiggy to mull raising up to ₹10,000 crore via QIP or other routes on Nov 7

Food delivery platform Swiggy

said on Thursday it will hold a board meeting on Nov. 7 to consider raising up to ₹10,000 crore through one or more routes, including qualified institutional placement (QIP), public or private offerings, or other modes permitted under applicable laws.

The proposed fundraising, which may be carried out in one or more tranches, will be subject to requisite regulatory and shareholder approvals, the company said in a filing to the BSE and NSE.

The move comes as the SoftBank- and Prosus-backed company continues to expand beyond food delivery, ramping up its Instamart grocery business and exploring profitability after its recent listing.

Swiggy has been strengthening its financial position amid intensifying competition from Zomato in food delivery and quick commerce.

The company reported a net loss of ₹1,092 crore for the September quarter, which was higher than the ₹626 crore loss it had reported during the same quarter last year.

Revenue for the quarter under review increased to ₹5,561 crore from ₹3,601 crore during the same quarter last year, implying a growth of 54%.

Shares of Swiggy ended 0.23% lower at ₹418, ahead of the earnings announcement. The stock remained above its IPO price of ₹390. Shares are down 23% so far in 2025.