Motilal Oswal: Swiggy Fundraise for Profit, Not Discounting War

• Swiggy's Rs 10,000 crore fundraise is unlikely to revive discounting wars, according to Motilal Oswal.
• The funds are expected to support calibrated expansion and a clearer path to profitability for Swiggy.
• Motilal Oswal believes the worst phase of discounting in the food-delivery sector is over, with competitors also focusing on profitability.
• Swiggy is transitioning towards profitability, with improving efficiency in its core food-delivery business.
• Instamart's GOV is improving and is projected to achieve break-even by Q1 FY27, leading Motilal Oswal to issue a 'Buy' rating with a Rs 550 target price.

Why It Matters: Swiggy's fundraise means profit focus, not discount wars, affecting market and users.