Swiggy QIP: Top MFs Bid 4x at ₹390.51 Floor Price

• Swiggy's Qualified Institutional Placement (QIP) received strong investor response, oversubscribed by over 4 times with bids totaling approximately ₹40,000 crore.
• Top mutual funds, including SBI, ICICI Prudential, HDFC, and Kotak Mahindra, were among the institutional investors participating in Swiggy's ₹10,000 crore QIP.
• The QIP, with a floor price of ₹390.51 per share, comes about a year after Swiggy's IPO.
• Funds from the QIP will be allocated to quick commerce fulfillment (₹4475 cr), technology/cloud infrastructure (₹985 cr), marketing (₹2340 cr), and inorganic growth/corporate purposes (25%).
• Swiggy's shares, which debuted at ₹390, have experienced significant price fluctuations, reaching a high of ₹617 and a low of ₹297.

Why It Matters: Swiggy's oversubscribed QIP fuels its expansion, tech, and marketing efforts.