Swiggy raised Rs 10,000 crore (around USD 1.2 billion) through a Qualified Institutions Placement (QIP).
The fund raise saw strong interest from both domestic and global institutional investors, highlighting confidence in Swiggy’s long-term business model.
What is a QIP and Why Did Swiggy Use It?
A Qualified Institutions Placement (QIP) is a method used by listed companies to raise capital quickly from institutional investors without going through a full public issue. Swiggy used the QIP route to strengthen its balance sheet, improve cash reserves, and support future growth plans.
Strong Investor Participation
The Swiggy QIP received bids from over 80 institutional investors. Out of these, 61 investors were allotted shares, including more than 15 new shareholders entering Swiggy’s investor base.
Overall participation included:
- 21 domestic mutual funds
- 8 domestic insurance companies
- Nearly 50 global institutional investors
Key Domestic Investors in Swiggy QIP
Leading Indian mutual funds played a major role in the QIP.
Some of the prominent names include:
- SBI Mutual Fund
- ICICI Prudential Mutual Fund
- HDFC Mutual Fund
- Nippon India Mutual Fund
- Kotak Mutual Fund
- Mirae Asset Mutual Fund
- Axis Mutual Fund
- Birla Mutual Fund
From the insurance side, ICICI Prudential Life Insurance and HDFC Life Insurance were among the key participants.
Global Investors Show Confidence
Swiggy’s QIP also attracted several well-known global investors, including:
- Capital Group
- GIC (Government of Singapore)
- BlackRock
- Nomura Asset Management
- Temasek
- Fidelity
- Goldman Sachs Asset Management
The presence of these global names signals strong international confidence in Swiggy’s growth story.
How the Rs 10,000 Crore Was Split
The fund raise was dominated by domestic capital:
- Around Rs 8,800 crore (approximately USD 1 billion) came from domestic mutual funds
- Around Rs 1,200 crore (approximately USD 200 million) came from foreign institutional investors (FIIs)
Swiggy Cash Position After QIP
After completing the QIP, Swiggy’s cash balance has increased to over Rs 14,000 crore. This gives the company a strong financial cushion to handle competition, invest in technology, and expand its food delivery and quick commerce operations.
How Swiggy Compares With Peers
For comparison:
- Eternal: Cash balance of Rs 18,314 crore (Q2 FY26)
- Zepto: Cash balance of around Rs 7,900 crore
While Swiggy does not have the highest cash balance among peers, its post-QIP liquidity places it in a strong competitive position.
Why This QIP Matters
The successful Swiggy QIP shows continued investor belief in India’s food delivery and quick commerce space. With a healthy cash balance and backing from top domestic and global institutions, Swiggy is better positioned to focus on growth, customer acquisition, and operational efficiency.
Bottom line: Swiggy’s Rs 10,000 crore QIP strengthens its balance sheet and signals long-term confidence from some of the world’s biggest investors.
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