Reason For Raising Funds Through Swiggy QIP
The capital boost is not only a sign of Swiggy’s growth appetite but also its intention to be a player in the competition with other players in the quick-commerce industry. The led issue of Rs. 10,000 crore is coming amidst a war between Swiggy Instamart and other companies in the market like Blinkit and Zepto, all trying to win over the consumers in the Indian market, which is the fastest-growing in the world.
Blinkit has announced the closure of the round of funding of Rs 600 crore, while Zepto just came around with $450 million, which shows that this battle is challenging and tough. The fundraising from Swiggy will allow the company to open new stores, increase the number of customers, and at the same time maintain its leading position in the industry. We, the investors, are excited to see this race with high stakes unfold step by step.
Still, we have to be patient, as it promises to be quite savory and heavy in terms of capital!
(With Inputs From Release)