Swiggy's ₹10,000 Cr QIP Opens; Floor Price ₹390.51, Shares Up 3%

• Swiggy's Qualified Institutional Placement (QIP) opened on December 9, aiming to raise up to ₹10,000 crore.
• The floor price for the QIP has been set at ₹390.51 per equity share.
• Shareholders and the board had previously approved the plan to raise funds.
• Swiggy is raising additional funds to strengthen growth capital in the competitive food delivery and quick commerce sectors.
• Swiggy's shares rose over 3% on December 9 following the announcement.

Why It Matters: Swiggy's large QIP indicates aggressive growth plans and intense market competition.