Swiggy Limited has successfully raised ₹10,000 crore through a qualified institutions placement (QIP) of equity shares, marking one of the largest fundraises in India’s consumer technology sector and the second-largest QIP ever undertaken by a non-banking company in India.
The QIP underscores sustained institutional confidence in Swiggy’s business model and long-term growth strategy, particularly across food delivery, quick commerce, and adjacent platform-led services. The transaction further strengthens Swiggy’s balance sheet and enhances financial flexibility ahead of its next phase of expansion.
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Legal Advisory – Issuer
Cyril Amarchand Mangaldas acted as legal counsel to Swiggy Limited on the QIP, advising on transaction structuring, capital markets documentation, regulatory compliance, and execution of the fundraise.
Transaction Team
Gokul Rajan, Partner & Regional Co-Head Capital Markets, North
Rushab Dhandokia, Principal Associate
Vartika Bhatnagar, Senior Associate
Adwait Deshmukh, Associate
Tanishq Mohta, Associate
Rishika Saraswat, Associate
Krishnam Saboo, Associate
Strategic Guidance
Yash J. Ashar, Senior Partner
Legal Advisory – Book Running Lead Managers
AZB & Partners advised the Book Running Lead Managers : Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, and Citigroup Global Markets India Private Limited on the QIP.
The Firm advised on capital markets documentation, regulatory aspects, and transaction execution for the BRLMs.
Deal Team
Varoon Chandra, Senior Partner
Lionel D’Almeida, Senior Partner
Sweta Ananthanarayanan, Partner
Anusha Mehta, Senior Associate
Tanaiy Tewari, Associate
Harsh Vardhan Singh, Associate
Lavanya Jha, Associate
Chitransh Bhansali, Associate
Udit Prajapat, Associate
International Legal Advisory – BRLMs
Latham & Watkins served as international legal counsel to the BRLMs on the QIP.
Transaction Team
Rajiv Gupta, Partner (Singapore)
Esha Goel, Associate
Nathanael Po, Associate
Tax Advisory
Rene de Vera, Partner (Chicago)
Transaction Significance
This QIP ranks among the most significant capital markets transactions in India’s consumer technology landscape, reflecting deep institutional appetite for scaled digital platforms with diversified revenue streams.
The transaction provides Swiggy with substantial capital to support:
Platform investments and technology enhancement
Expansion of quick-commerce and logistics capabilities
Strengthening of long-term balance sheet resilience
About Swiggy
Swiggy is one of India’s leading consumer internet companies, operating across food delivery, quick commerce, and platform-enabled services. Backed by global investors, the company has built a nationwide logistics and merchant ecosystem serving millions of consumers across India.
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Disclaimer
This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions
