Swiggy shares drop 2% as board to consider ₹10,000 crore fund raise via QIP

Shares of Swiggy declined over 2% in early trade on Friday ahead of its board meeting today to consider raising ₹10,000 crore through a qualified institutional placement (QIP) or other modes. The food delivery aggregator plans to raise capital in one or more tranches.

Extending its losing streak for the second day, the Swiggy share price dropped as much as 2.07% to ₹395.60 on the BSE. The foodtech stock opened 1.48% lower at ₹398, after ending 2.23% in the previous session.

At the time of reporting, Swiggy shares were trading 1.65% lower at ₹397.35 on the BSE, with a market capitalisation of ₹99,222 crore. The stock has fallen 13% in the past one year, while it has rallied nearly 21% in the last six months. The counter has lost 5.5% in a month.

On October 30, 2025, Swiggy announced that its board will meet on November 7 to consider a proposal to raise up to ₹10,000 crore through various funding options. The potential capital raise could involve a qualified institutional placement (QIP), public or private offerings, or other methods allowed under applicable regulations, it said.

As per the company’s filing, the fundraising may be carried out in multiple tranches, subject to required regulatory and shareholder approvals.

The move reflects Swiggy’s intent to strengthen its balance sheet and support its expansion and diversification plans across key business segments.

Swiggy’s financial performance remains under pressure, with its net loss widening 74.4% year-on-year to ₹1,092 crore in the second quarter (Q2) of FY26, compared to a loss of ₹626 crore in the corresponding period last year. The Bengaluru-based company had posted a ₹1,197 crore loss in the previous quarter, as accelerated expansion in its quick-commerce arm, Instamart, weighed on profitability.

Meanwhile, revenue from operations jumped 54.4% YoY to ₹5,561 crore in Q2, up from ₹3,601 crore in the same quarter last year, and higher than ₹4,961 crore reported in the preceding quarter.

In September this year, Swiggy raised ₹2,399 crore by selling its entire 12% stake in Rapido to Prosus and Westbridge Capital, in a bid to increase its cash balance in an intensely competitive market.

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