Swiggy Shares In Focus: Shareholders Approve Raising Rs 10,000 Crore Via QIP

The shares of Food and grocery delivery platform Swiggy Ltd. will be in focus on Tuesday after the shareholders of the company approved its plan to raise Rs 10,000 crore via qualified institutional placement.

In addition, on Tuesday Swiggy had 1.03 million shares change hands in a block trade reported Bloomberg.

The shareholders through a special resolution gave their nod for the fundraising during the company's first extraordinary general meeting for this financial year.

“We would like to inform that the resolution as set out in the notice dated November 14, 2025, was passed by the shareholders with the requisite majority,” the company said in an exchange filing on Monday.

The board of directors last month had approved the plans to raise Rs 10,000 crore through QIP.

The company has shortlisted three banks to manage the share sale — the Indian units of Citigroup Inc. and JPMorgan Chase & Co., as well as Kotak Mahindra Capital Co., Bloomberg reported quoting sources earlier this month.

The fund raise comes amid surging demand and intensifying competition in the sector. Startups are competing with Amazon.com Inc. and Walmart Inc.-backed Flipkart to cover cities with networks of neighborhood warehouses and fleets to quickly deliver everything from groceries and electronics.

JPMorgan in its report last month said that Swiggy has dialled down subsidies over the past three weeks but sharply increased marketing intensity, especially across paid display and paid search.

On the other hand, Macquarie remains constructive on the quick commerce sector growth but expects material, persistent losses, pushing back against the narrative of a sharp improvement in profitability driven by consolidation. It maintains 'underperform' ratings on Zomato-parent Eternal and Swiggy. The brokerage set a target price of Rs 200 on Eternal, implying a 33% downside, and Rs 285 on Swiggy, noting a potential 28.6% downside.

The scrip rose as much as 3.50% to Rs 399.40 apiece on Tuesday, the highest level since Dec. 5. It pared gains to trade 2.33% higher at Rs 394.90 apiece, as of 11:29 a.m. This compares to a 0.38% decline in the NSE Nifty 50 Index.

It has fallen 27.17% in the last 12 months and 27.75% year-to-date. Total traded volume so far in the day stood at 2.57 times its 30-day average. The relative strength index was at 60.89.

Out of 28 analysts tracking the company, 23 maintain a 'buy' rating, three recommend a 'hold,' and two suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target of Rs 497.93 implies an upside of 26.9%.