Swiggy opens ₹10,000-crore QIP

FOOD AND GROCERY delivery platform Swiggy on Tuesday launched a qualified institutional placement (QIP) issue to raise ₹10,000 crore, just a year after its market debut.

- FE BUREAU

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

The fundraising comes as the domestic quick commerce market expands amid surging demand and intensifying competition.