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Food delivery major Swiggy on Friday said its board has approved a proposal to raise up to Rs 10,000 crore through public or private offerings, including a Qualified Institutional Placement (QIP) or other permissible modes.
In a filing to the BSE, the company said the fundraising may be undertaken in one or more tranches, subject to shareholder and regulatory approvals. The capital will be raised by issuing equity shares or other instruments in accordance with applicable laws.
The move follows Swiggy’s recent indication that it was evaluating fresh fundraising options to strengthen its balance sheet and maintain growth momentum in a highly competitive environment.
The development comes at a time when the food delivery and quick commerce markets are witnessing heightened competition. Rival Zepto recently raised $450 million (around Rs 4,000 crore) at a valuation of $7 billion, boosting its financial muscle and market positioning in the quick delivery space.
Swiggy said it remains confident about its financial health, pointing to a cash balance of Rs 2,400 crore following the sale of its stake in bike-taxi platform Rapido earlier this year.
Despite a strong topline growth, the company’s losses have widened. Swiggy’s consolidated net loss stood at Rs 1,092 crore for the September quarter, compared with Rs 626 crore in the same period last year. The company had reported a net loss of Rs 1,197 crore in the June 2025 quarter.
However, revenues continued to grow at a robust pace. Swiggy’s consolidated revenue for the second quarter of FY26 rose 54.4% year-on-year to Rs 5,561 crore, from Rs 3,601 crore a year earlier.
The proposed fundraising is expected to provide additional financial flexibility as Swiggy seeks to consolidate its position across food delivery and quick commerce, while managing operational challenges and preparing for a potential public listing in the future.
