Swiggy raises Rs 10,000 crore via QIP at nearly 4% discount to floor price

Synopsis

Food delivery firm Swiggy has successfully raised Rs 10,000 crore through its qualified institutional placement. Shares were allocated to domestic mutual funds and global investors. This significant capital infusion boosts Swiggy’s cash reserves to approximately Rs 15,000 crore. The company anticipates an additional Rs 2,400 crore from the sale of its stake in Rapido.