Swiggy raises ₹10,000cr to fuel big expansion plans
Swiggy just raised a massive ₹10,000cr (over $1.2 billion) from global and Indian investors through a Qualified Institutional Placement (QIP).
The shares were offered at a small discount.
Who backed Swiggy?
Over 80 investors jumped in, with 61 getting shares—including 15+ new names.
Most of the money (about ₹8,800cr) came from Indian mutual funds like SBI, ICICI Prudential, HDFC, and Kotak.
Big insurance players like ICICI Prudential Life and HDFC Life also joined in.
Global heavyweights such as GIC, Temasek, Capital Group, BlackRock, Fidelity Nomura, and Goldman Sachs Asset Management rounded out the list.
What's next for Swiggy?
With its cash pile now over ₹14,000cr, Swiggy plans to expand its fulfillment centers from 5 million sq ft to 6.7 million by December 2028.
The company isn't just about food delivery—it's also growing Instamart (grocery delivery) and dine-out options.
Some of the new funds will also go into tech upgrades (₹985cr) and marketing (₹2,340cr).