Swiggy board clears up to Rs 10,000 crore fundraise via QIP; details here
Swiggy: On the earnings front, the food delivery and quick commerce platform reported a wider consolidated net loss of Rs 1,092 crore for the September quarter, compared to Rs 626 crore in the same period last year.
- Nov 7, 2025,
- Updated Nov 7, 2025 4:54 PM IST
Swiggy Ltd on Friday said its Board of Directors has approved raising up to Rs 10,000 crore through qualified institutional placement (QIP). The company stated that the fundraising may be carried out in one or more tranches via public or private offerings, subject to necessary approvals from shareholders and regulatory authorities.
"The Board has considered and approved the raising of funds by way of public or private offerings, including qualified institutions placement or any other permitted modes under applicable laws, for an aggregate amount of up to Rs 10,000 crore," Swiggy stated in an exchange filing.
On the earnings front, the food delivery and quick commerce platform reported a wider consolidated net loss of Rs 1,092 crore for the September quarter, compared to Rs 626 crore in the same period last year.
Despite the increase in losses, global brokerage Nomura maintained its 'Buy' rating on Swiggy and raised its target price to Rs 560 from Rs 550 earlier, implying a potential upside of 39.44 per cent from today's closing level of Rs 401.60. The brokerage said the company's growth metrics were broadly in line with expectations, supported by sustained momentum in both food delivery (FD) and quick commerce (Instamart) businesses.
Swiggy's FD segment registered a 6 per cent quarter-on-quarter (QoQ) and 19 per cent year-on-year (YoY) growth in gross order value (GOV) for Q2 FY26, outpacing rival Zomato's 18 per cent YoY growth. Monthly transacting users rose 5.7 per cent QoQ to 17.2 million, while the take rate, including delivery charges as a share of GOV, improved 10 basis points (bps) to 25.8 per cent.
The company's contribution margin stood at 7.3 per cent, flat sequentially, as higher revenue was offset by lower subscription fees and minimum order values. Adjusted EBITDA margin improved to 2.8 per cent, up 44 bps QoQ. Nomura expects Swiggy to sustain food delivery GOV growth of 19–20 per cent YoY over FY26–FY27, with contribution margins around 7.5–7.7 per cent.
Swiggy's Instamart vertical reported a strong performance, with GOV reaching Rs 7,000 crore in Q2 -- up 24 per cent QoQ and 108 per cent YoY -- driven by higher order volumes and an 8 per cent increase in monthly users. Nomura said the fundraising would help Swiggy bolster its quick commerce expansion amid rising competition from Zepto and Eternal.
Swiggy Ltd on Friday said its Board of Directors has approved raising up to Rs 10,000 crore through qualified institutional placement (QIP). The company stated that the fundraising may be carried out in one or more tranches via public or private offerings, subject to necessary approvals from shareholders and regulatory authorities.
"The Board has considered and approved the raising of funds by way of public or private offerings, including qualified institutions placement or any other permitted modes under applicable laws, for an aggregate amount of up to Rs 10,000 crore," Swiggy stated in an exchange filing.
On the earnings front, the food delivery and quick commerce platform reported a wider consolidated net loss of Rs 1,092 crore for the September quarter, compared to Rs 626 crore in the same period last year.
Despite the increase in losses, global brokerage Nomura maintained its 'Buy' rating on Swiggy and raised its target price to Rs 560 from Rs 550 earlier, implying a potential upside of 39.44 per cent from today's closing level of Rs 401.60. The brokerage said the company's growth metrics were broadly in line with expectations, supported by sustained momentum in both food delivery (FD) and quick commerce (Instamart) businesses.
Swiggy's FD segment registered a 6 per cent quarter-on-quarter (QoQ) and 19 per cent year-on-year (YoY) growth in gross order value (GOV) for Q2 FY26, outpacing rival Zomato's 18 per cent YoY growth. Monthly transacting users rose 5.7 per cent QoQ to 17.2 million, while the take rate, including delivery charges as a share of GOV, improved 10 basis points (bps) to 25.8 per cent.
The company's contribution margin stood at 7.3 per cent, flat sequentially, as higher revenue was offset by lower subscription fees and minimum order values. Adjusted EBITDA margin improved to 2.8 per cent, up 44 bps QoQ. Nomura expects Swiggy to sustain food delivery GOV growth of 19–20 per cent YoY over FY26–FY27, with contribution margins around 7.5–7.7 per cent.
Swiggy's Instamart vertical reported a strong performance, with GOV reaching Rs 7,000 crore in Q2 -- up 24 per cent QoQ and 108 per cent YoY -- driven by higher order volumes and an 8 per cent increase in monthly users. Nomura said the fundraising would help Swiggy bolster its quick commerce expansion amid rising competition from Zepto and Eternal.