Swiggy’s Rs 10,000-crore QIP oversubscribed 4.5 times at issue price of Rs 375

Swiggy, on Wednesday, raised Rs 10,000 crore via qualified institutional placement (QIP) of about 26.67 crore equity shares at an issue price of Rs 375 apiece, which was at a discount of nearly 4% to the floor price of Rs 390.51 a share, sources familiar with the matter told FE.

The QIP, which kicked off on Tuesday, was oversubscribed 4.5 times, indicating strong investor appetite for the food and grocery delivery platform’s equity despite elevated cash burn levels.