shares closed at ₹402.60 on Wednesday, today, up 0.80 per cent or ₹3.20 from the previous close of ₹399.40, as the company prepares to raise $1.1 billion through a qualified institutional placement as early as next week, according to a Bloomberg report.
The food and grocery delivery platform has shortlisted three banks to manage the share sale: Citigroup, JPMorgan Chase, and Kotak Mahindra Capital, Bloomberg reported citing people familiar with the matter. The company’s board had approved plans on November 7 to raise up to ₹10,000 crore through a QIP, subject to shareholder and regulatory approval.
The stock traded in a range of ₹395.05 to ₹405.50 during the session, with 69.43 lakh shares changing hands worth ₹279.03 crore. The counter saw 58.19 per cent deliverable volume.
The fundraising comes as competition intensifies in India’s quick commerce sector, with Swiggy’s Instamart competing against Zepto and Zomato-owned Blinkit. Last year, rival Eternal raised ₹8,500 crore via QIP, while Zepto is reportedly planning an IPO between July and September 2026.
Swiggy reported a net loss of ₹1,092 crore in the July-September quarter, wider than ₹626 crore in the year-ago period, though revenue rose 54.4 per cent year-on-year to ₹3,601 crore. The funds will provide strategic flexibility and growth capital as the company transitions its quick commerce operations.
The stock remains around 27.17 per cent below its 52-week high of ₹552.80 hit in December 2024.