Food and grocery delivery platform Swiggy on Monday said its shareholders have given the go-ahead to raising up to Rs 10,000 crore via qualified institutional placement (QIP). The company’s shareholders, via a special resolution, granted approval for fundraising via video conferencing during the company’s first extraordinary general meeting for the ongoing financial year (FY26).
“We would like to inform that the resolution as set out in the notice dated November 14, 2025, was passed by the shareholders with the requisite majority,” a stock exchange filing read. The voting analysis showed that 99.47 per cent of votes were cast in favour of the resolution approving raising capital via QIP, while only 0.52 per cent were against.
Last month, the company’s board had approved the plan to raise funds via the QIP route. Notably, QIP is a tool that allows listed companies to raise capital from qualified institutional buyers such as mutual funds and insurance companies. This is done by issuing fresh shares. In this case, Swiggy is raising capital to expand its quick commerce (qcom) operations while strengthening its balance sheet.
The company is fundraising at a time when competition in the instant-grocery space is heating up, and rivals are rushing to raise capital and expand operations. Notably, Zepto recently announced the closure of an approximately $450 million round at a valuation of $7 billion. It also converted to a public company, ahead of its D-street debut next year to tap into public markets. In addition, Blinkit, which has set a target to establish 3,000 dark stores by March 2027, received an investment of Rs 600 crore from its parent company Eternal, and Innovative Retail, the consumer-facing arm of BigBasket, secured Rs 200 crore in debt funding from DBS Bank.
Noting the rising investment and continued investment in qcom, while sharing the results for the second quarter of this financial year (Q2FY26), Swiggy’s chief financial officer, Rahul Bothra, had said the new fundraise (via the QIP route) would be used as growth capital. He had added that the company does not expect to raise any further capital after the QIP.
In Q2FY26, Swiggy posted a consolidated net loss of Rs 1,092 crore as against a loss of Rs 626 crore a year earlier. Despite this, the company recorded strong top-line growth, with revenue from operations rising 54.42 per cent year-on-year to Rs 5,561 crore during the quarter, reflecting expansion in food and groceries.
