Swiggy shareholders approve delivery company’s plan to raise Rs 10,000 crore via QIP

Shareholders of food and grocery delivery company Swiggy have approved its plan to raise Rs 10,000 crore through a qualified institutional placement, according to a regulatory disclosure.

People in the know said the shareholders’ nod is an enabling provision for the company’s capital raise plans, which could be launched as early as this week.

Typically, companies conducting QIP fundraises price the offering at discounts to market prices. Shares of Swiggy closed 2.1% lower at Rs 385.85 apiece on the BSE on Monday.