SWIGGY

Attracts 80+ Investors in Blockbuster QIP, Plans Aggressive Expansion

has completed a blockbuster ₹10,000‑crore QIP, attracting strong demand from domestic mutual funds, insurers, and nearly 50 global investors. The fundraise significantly strengthens Swiggy’s balance sheet, enabling aggressive expansion of Instamart, deeper investments in technology, and sustained brand-building as competition in quick commerce accelerates. Over 80 investors bid for the QIP, with 61 receiving allocations—15 of them new shareholders. Domestic mutual funds contributed the bulk (~₹8,800 crore), with participation from SBI MF, HDFC MF, ICICI Prudential MF, Kotak MF, Mirae, Axis, and Birla MF. Global heavyweights like GIC, Temasek, BlackRock, Capital Group, Fidelity, Nomura, and Goldman Sachs also invested. The largest allocation—₹4,475 crore—will expand Swiggy’s quick‑commerce fulfilment network, including dark stores and warehouses. Swiggy plans to grow its footprint from 5 million sq. ft. (Nov 2025) to 6.7 million sq. ft. by Dec 2028, signalling a long-term commitment to Instamart scale-up. ₹985 crore is earmarked for technology and cloud infrastructure. Swiggy has signed a non-binding LOI for a six-year cloud commitment worth ₹1,820 crore, ahead of its current cloud contract expiring in Feb 2026—indicating a major forward tech spend. Swiggy has allocated ₹2,340 crore for marketing and promotions. It has already issued purchase orders worth ₹1,961 crore for Dec 2025–Nov 2027, signalling sustained high customer acquisition and brand-building over the next two years. Post-QIP, Swiggy’s cash balance exceeds ₹14,000 crore, plus ₹2,400 crore from its Rapido stake sale—bringing it close to Zomato’s Eternal unit (₹18,314 crore). Zepto, by comparison, has ₹7,900 crore. This positions Swiggy strongly for the capital-intensive quick-commerce race.