Foodtech giant Swiggy has received board approval to raise up to ₹10,000 crore (approximately $1.1 billion) through a combination of public and private market issuances, as the company looks to strengthen its financial position and accelerate its quick commerce operations.
The fundraising may be conducted in multiple tranches, potentially through a Qualified Institutions Placement (QIP) or other instruments permitted under Indian regulations. Swiggy’s shareholders’ approval is pending, and the company is expected to convene an Extraordinary General Meeting (EGM) soon to formalize the plan.
Strong Financial Position Ahead of Market Expansion
While the timeline for the fundraising has not been disclosed, the move aligns with Swiggy’s strategy to reinforce its cash reserves and balance sheet ahead of a potential public listing.
The company is also expected to receive ₹2,400 crore from the sale of its stake in Rapido, further strengthening its liquidity position. Post this transaction, Swiggy’s cash reserves could reach around ₹7,000 crore, providing a solid runway for its expansion plans.
Swiggy Reports Strong Profit Growth in FY26
Swiggy’s latest financial performance underscores its improving fundamentals. The company reported a 74.4% year-on-year (YoY) increase in consolidated net profit to ₹1,092 crore in Q2 FY26, while operating revenue surged 54% YoY to ₹5,561 crore during the same period.
Analysts view the fresh capital infusion as a key step in scaling Swiggy’s quick commerce arm, Instamart, and maintaining competitive momentum against Zomato’s Blinkit in India’s fast-evolving delivery market.
With profitability improving and strong investor confidence, Swiggy’s latest move positions it firmly for its next phase of growth possibly ahead of a much-anticipated IPO.
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