Swiggy kick-starts Rs 10,000-crore QIP

Food and grocery delivery platform Swiggy on Tuesday launched a qualified institutional placement (QIP) issue to raise Rs 10,000 crore, just a year after its market debut.

Swiggy has fixed a floor price of Rs 390.51, a 2% markdown from Tuesday’s closing price of Rs 397.95 on the BSE. Notably, this pricing is marginally above its initial public offering price of Rs 390 per share. The company has indicated it may extend an additional discount of up to 5% on the floor price.