Swiggy opens QIP today; floor price set at ₹390.51 per share

Food and grocery delivery platform Swiggy Ltd on Tuesday (December 9) said its Investment & Allotment Committee has approved the opening of a qualified institutions placement of equity shares of face value ₹1 each.

The company said the move follows the approval of its board of directors at the meeting held on November 7, 2025, and the special resolution passed by shareholders at the extraordinary general meeting on December 8, 2025.

The committee set the floor price for the issue at ₹390.51 per equity share and approved the preliminary placement document dated December 9, 2025, along with the application form. December 9, 2025, has been fixed as the relevant date for the issue.

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The company said it may offer a discount of up to 5% on the floor price, subject to shareholder approval. The final issue price will be determined in consultation with the book-running lead managers.

Last month, the Swiggy board approved raising funds up to ₹10,000 crore in one or more tranches through the Qualified Institutional Placement (QIP) route or any other permitted modes, as it seeks to bolster growth capital in a competitive environment.

In a regulatory filing, Swiggy informed that its board of directors at its meeting held on November 7 has "approved the raising of funds by way of public or private offerings including, through one or more tranches, by way of QIP or any other permitted modes ... to the eligible investors as may be permitted, for an aggregate amount of upto ₹10,000 crore, subject to the receipt of necessary approvals".

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Swiggy, which owns food delivery and quick commerce businesses, had recently said the external environment is competitive and dynamic, and hence the company's board will consider raising additional funds.

Shares of Swiggy Ltd ended at ₹397.70, up by ₹11.80, or 3.06%, on the BSE.