Swiggy raises Rs 10,000 crore via QIP, cash balance hits Rs 17,000 crore

• Swiggy raised Rs 10,000 crore (approx. $1.2 billion) through a Qualified Institutions Placement (QIP).
• The QIP saw participation from 21 mutual funds, 8 domestic insurance companies, and nearly 50 global investors.
• Key investors included SBI MF, ICICI Prudential MF, Capital Group, GIC, BlackRock, and Temasek.
• The funds boost Swiggy's cash balance to around Rs 17,000 crore, providing flexibility for growth.
• Proceeds will be used for Instamart expansion (Rs 4,475 crore), technology (Rs 985 crore), and brand marketing (Rs 2,340 crore).

Why It Matters: Swiggy's massive funding fuels expansion and strengthens its market position.