Swiggy Ltd shares gained nearly 2% in early trade on Friday, rising to around ₹426 after the company announced that its Board will meet on November 7 to consider raising up to ₹10,000 crore via a qualified institutional placement (QIP). The move comes as the food delivery and quick commerce player sharpens its financial readiness in a competitive market environment.
Fundraise plan: Board to meet on November 7
In a letter to shareholders, Swiggy said the external environment remains dynamic, with both established and new players attracting capital. The company said the proposed fundraise will help strengthen growth capital and strategic flexibility.
“With the current cash balance to be further bolstered by the ₹2,400 crore Rapido divestment, we feel comfortable about our overall balance sheet strength, and are well-funded for our growth ambitions,” the company stated. However, Swiggy added that given competitive market dynamics, the Board will evaluate raising additional funds.
The fund infusion—if approved—will be through the QIP route, with the decision expected during the board meeting on November 7, 2025.
Q2 FY25 results: Loss widens to ₹1,092 crore
On Thursday, Swiggy also announced its quarterly results. The company reported a consolidated net loss of ₹1,092 crore for the September quarter, widening from ₹626 crore a year earlier. The loss expansion comes despite continued growth in food delivery and quick commerce verticals led by Instamart.
Stock update
Swiggy shares were trading at ₹425.95, up 1.91% in early trade. The stock moved in a range of ₹421.90 to ₹434.00 during the session. Swiggy currently commands a market capitalisation of ₹956.48 billion and witnesses strong trading activity with over 11 million average daily volumes.
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