Swiggy Limited shares closed at ₹402.60 on Wednesday, reflecting an increase of 0.80 percent or ₹3.20 from the previous close of ₹399.40. This uptick comes as the company prepares to raise $1.1 billion through a qualified institutional placement (QIP) potentially as early as next week, according to a Bloomberg report.
The food and grocery delivery service has selected three banks to manage the share sale: Citigroup, JPMorgan Chase, and Kotak Mahindra Capital, as reported by Bloomberg citing sources familiar with the matter. The company’s board approved plans on November 7 to raise up to ₹10,000 crore through a QIP, pending the necessary shareholder and regulatory approvals.
During the trading session, Swiggy’s stock ranged between ₹395.05 and ₹405.50, with approximately 69.43 lakh shares exchanged, amounting to ₹279.03 crore. The deliverable volume for the stock stood at 58.19 percent.
This fundraising initiative comes amid growing competition in India’s quick commerce sector, where Swiggy’s Instamart faces rivals such as Zepto and Zomato-owned Blinkit. Last year, competitor Eternal raised ₹8,500 crore through a QIP, while Zepto is reportedly eyeing an IPO between July and September 2026.
In its financial disclosures, Swiggy reported a net loss of ₹1,092 crore in the July-September quarter, which is larger than the ₹626 crore loss it recorded in the same period last year. However, the company’s revenue rose 54.4 percent year-on-year to ₹3,601 crore. The forthcoming funds are aimed at providing strategic flexibility and growth capital as Swiggy transitions its quick commerce operations.
Despite recent gains, the stock is currently approximately 27.17 percent below its 52-week high of ₹552.80, which was achieved in December 2024.
Published on December 3, 2025.
