Swiggy mulls up to $1.5 billion fundraise for balance sheet boost
Food and groceries delivery company Swiggy is exploring a qualified institutional placement (QIP) of up to $1.5 billion to strengthen its balance sheet and bolster its position in the fast-expanding quick commerce market, multiple people aware of the proposed fundraising told ET.
With Zepto’s recent mobilisation of funds reigniting competition in the sector, Swiggy is also evaluating a separate capital raise for its 10-minute delivery unit Instamart, which was recently moved under a standalone subsidiary.
