Why is Swiggy raising Rs 10,000 crore?

Swiggy is raising Rs 10,000 crore to invest in its quick commerce unit, Instamart, and enhance its competitive position in the fast-delivery market.

Who are Swiggy's main competitors in quick commerce?

Swiggy's key competitors include Blinkit, Zepto, BigBasket, Flipkart, and Amazon, all vying for market share in the 10-minute delivery space.

What was Swiggy's valuation during its last fundraising?

Swiggy was valued at approximately Rs 97,400 crore at the floor price set for its Rs 10,000 crore qualified institutional placement.

Home / Business and Economy / Swiggy Eyes Rs 10,000 Crore Boost for Delivery Wars

Swiggy Eyes Rs 10,000 Crore Boost for Delivery Wars

9 Dec

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Summary

Swiggy's board approved raising Rs 10,000 crore via qualified institutional placement.
The fundraise aims to fuel competition in the fast-growing quick commerce sector.
Swiggy faces intense rivalry from Blinkit, Zepto, BigBasket, Flipkart, and Amazon.

Swiggy Eyes Rs 10,000 Crore Boost for Delivery Wars

Food and grocery delivery giant Swiggy has received board approval to launch a qualified institutional placement (QIP) aiming to raise Rs 10,000 crore. This substantial capital infusion is slated to strengthen its quick commerce unit, Instamart, which is currently engaged in a fierce market share battle. The move underscores Swiggy's commitment to accelerating investments in a rapidly growing category.

The Bengaluru-based company faces formidable competition from established players and emerging quick commerce rivals such as Blinkit, Zepto, BigBasket, Flipkart, and Amazon. Zepto, in particular, is reportedly preparing for its own initial public offering, highlighting the dynamic and competitive landscape.