Swiggy Ltd. Board Approves Strategic ₹10,000 Crore Capital Raise via QIP

Board of Directors of Swiggy Ltd. has approved a proposal to raise funds aggregating up to ₹10,000 crore (approx. $1.2 billion USD) through a Qualified Institutional Placement (QIP). This capital raise is a proactive measure to enhance our strategic flexibility in a dynamic and competitive consumer-tech landscape. The primary objectives for the infusion of new capital include: Accelerating Quick Commerce Dominance: To aggressively expand our footprint and leadership in the high-growth quick commerce market, where we compete with players like Blinkit and Zepto. Strengthening Food Delivery: To further invest in our core food delivery business, enhancing operational efficiency, technology, and market penetration. Driving Margin Improvement: To support our ongoing cost-optimization measures and strategic investments in new business experiments, positioning us for long-term profitability. 📊 Q2 FY26 Financial & Operational Highlights Consolidated Revenue: Grew 54% year-over-year to ₹5,561 crore Quick Commerce Performance: This segment was a key growth driver, with revenue doubling year-over-year to ₹980 crore. Food Delivery Revenue: Showed steady growth, rising to ₹1,923 crore from ₹1,577 crore in the prior year. While these investments in growth led to a widened EBITDA loss of ₹798 crore and a net loss of ₹1,092 crore for the quarter, we view this as a necessary allocation of capital to secure market share. Capital Position Our balance sheet remains robust. We ended Q2 with ₹4,605 crore in cash on books. This position has been further strengthened by the recent strategic divestment of our entire stake in Rapido, which added approximately ₹2,400 crore to our reserves. This proposed QIP will significantly augment our existing cash position (anticipated to be ~₹7,000 crore post-Rapido sale), providing us with a substantial capital runway to execute our long-term vision The company's stock remains above its IPO price of ₹390.