Swiggy cash reserves getting too close for Eternal comfort

Fundraise of ₹10,000 crore signals rising q-comm rivalry

- ANEES HUSSAIN

SWIGGY'S PLAN TO raise upto ₹10,000 crore through a qualified institutional placement is seen by analysts as a measure to build a larger cash buffer in an increasingly crowded quick-commerce market.

The move will see its total liquidity rising from ₹4,605 crore to nearly ₹17,000 crore, surpassing Zepto’s ₹8,000 crore, and just a shade lower than rival Eternal’s ₹18,314 crore.

The proposed fundraise comes barely a year after Swiggy’s ₹11,327-crore IPO, and also at a time when its balance sheet appears comfortable. According to analysts, the continued need for capital reflects the competitive intensity in the quick-commerce segment rather than any immediate financial stress.