Swiggy share price is expected to remain in focus on Monday after the food delivery and quick commerce major announced the successful completion of its Qualified Institutions Placement (QIP), raising a substantial ₹10,000 crore from institutional investors.
On Friday, Swiggy shares gained nearly 4% to close at ₹416.70. The stock has shown steady momentum, rising over 6% in the past one month and 15.45% over the last six months. However, despite the recent rally, Swiggy share price is still down 3.25% since its stock market debut in November 2024.
Swiggy QIP Details: Strong Institutional Demand
In an exchange filing dated December 13, Swiggy confirmed that its QIP witnessed strong and diversified participation from marquee domestic and global institutional investors.
Key Highlights of the Swiggy QIP:
Participation from 21 mutual funds, including all of India’s top 10 fund houses such as:
SBI Mutual Fund
ICICI Prudential Mutual Fund
HDFC Mutual Fund
Nippon India Mutual Fund
Kotak Mutual Fund
Mirae Asset Mutual Fund
Axis Mutual Fund
Aditya Birla Sun Life Mutual Fund
Interest from over 80 investors, with shares allocated to 61 investors
More than 15 new shareholders joined Swiggy’s investor base through the QIP
Participation from 8 domestic insurance companies, including ICICI Prudential Life Insurance and HDFC Life Insurance
Strong global investor interest from leading names such as:
Capital Group
Government of Singapore (GIC)
BlackRock
Nomura Asset Management
Temasek
Fidelity
Goldman Sachs Asset Management
Swiggy QIP Pricing and Timeline
The QIP was launched on December 9 and closed on December 12. Shares were issued at ₹375 per share, which represents a 4% discount to the floor price of ₹395, in line with SEBI regulations.
Use of QIP Proceeds
Swiggy stated that the funds raised through the QIP will be used for multiple strategic initiatives, including:
Expansion and operations of the quick commerce fulfilment network, including dark stores and warehouses
Investments in technology and cloud infrastructure
Brand marketing and business promotion to enhance platform visibility across segments
Funding inorganic growth through potential acquisitions
General corporate purposes
Management Commentary
Commenting on the successful fundraising, Sriharsha Majety, MD & Group CEO of Swiggy, said:
“The strong response to our QIP from both global and domestic institutional investors, including new investors since our IPO last year, reflects deep confidence in Swiggy’s business fundamentals, disciplined execution, and long-term value creation roadmap. The additional capital provides us the flexibility to strengthen our core businesses, scale Instamart while maintaining financial prudence, and invest in innovation to continue to deliver unparalleled convenience.”
Advisors to the Swiggy QIP
Book Running Lead Managers:
Kotak Mahindra Capital Company Limited
J.P. Morgan India Private Limited
Citigroup Global Markets India Private Limited
Legal Counsel to Swiggy: Cyril Amarchand Mangaldas
Legal Counsel to BRLMs: AZB & Partners and Latham & Watkins
Swiggy Share Price Outlook
With the successful ₹10,000 crore QIP and strong backing from global and domestic institutional investors, Swiggy shares are likely to attract investor attention in the upcoming sessions. Market participants will closely track how effectively the company deploys the fresh capital to drive growth in quick commerce, technology, and brand expansion.
Disclaimer: This article is for informational and educational purposes only. It does not constitute investment advice. Investors are advised to consult a certified financial advisor before making any investment decisions.
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