ICICI Prudential AMC and SBI MF Lead Investments in Swiggy's ₹10,000 Crore Fundraising

Swiggy's recent ₹10,000 crore qualified institutional placement (QIP) saw significant participation from domestic institutions, with ICICI Prudential AMC, SBI Mutual Fund, and Aditya Birla Sun Life Mutual Fund collectively acquiring over 37% of the offered shares.

The fundraising effort strengthens Swiggy's financial position, supporting its expansion in the quick commerce sector and facilitating its broader long-term growth objectives.

Allocation details reveal that these three mutual fund houses were the largest buyers in the QIP, securing shares worth approximately ₹3,700 crore in total. ICICI Prudential AMC received roughly 16% of the issue across 12 of its schemes. SBI Mutual Fund obtained around 15% through eight schemes, while Aditya Birla Sun Life Mutual Fund was allocated almost 6% via 10 schemes.

Together, the three fund houses accounted for over 37% of the placement, establishing them as the single largest investor group in this transaction. This substantial mutual fund involvement occurred as Swiggy concluded one of the largest capital-raising initiatives within India's consumer technology industry. The QIP, which opened on December 9th and closed on December 12th, enabled the Bengaluru-based company to raise ₹10,000 crore.

The shares were issued at ₹375 each, representing a 4% discount from the floor price of ₹390.5, consistent with SEBI regulations. The deal is the second largest of its kind.