New Delhi: Swiggy Ltd secured shareholder approval to raise up to ₹10,000 crore through a Qualified Institutional Placement (QIP), as the company held its first Extraordinary General Meeting (EGM) for FY26 on Monday via video conferencing. The resolution was passed with an overwhelming majority, the company said in a regulatory filing.
The EGM, conducted between 3:00 PM and 3:50 PM, saw participation from 47 public shareholders through video conferencing, while promoters did not attend the meeting—consistent with norms for virtual EGMs. The meeting was chaired by Shailesh Haribhakti, Independent Director and Audit Committee Chair, after Chairman Anand Kripalu was unable to preside due to last-minute exigencies.
According to the e-voting results, the QIP proposal received 99.48% votes in favour, with only 0.52% votes against. Both remote e-voting and live e-voting during the EGM were facilitated through NSDL. A scrutinizer’s report from BMP & Co LLP validated the outcome. �
The capital-raise plan—Swiggy’s first major equity issuance since listing—is expected to bolster the company’s balance sheet as it scales its quick-commerce vertical, expands logistics, and strengthens its core food delivery operations.
Managing Director and Group CEO Sriharsha Majety, along with CFO Rahul Bothra, addressed shareholders on the strategic rationale behind the fundraising initiative, outlining growth priorities and planned capital deployment.
All directors, key managerial personnel, statutory auditors, and secretarial auditors attended the meeting through VC, reflecting high compliance with SEBI and MCA norms for electronic shareholder partici pation.