Swiggy on Friday said its board has approved the raising of funds up to ₹10,000 crore in one or more tranches through the Qualified Institutional Placement (QIP) route or any other permitted modes, as it seeks to bolster growth capital in a competitive environment.

In a regulatory filing, Swiggy informed that its board of directors at its meeting held on November 7 has "approved the raising of funds by way of public or private offerings including, through one or more tranches, by way of QIP or any other permitted modes ... to the eligible investors as may be permitted, for an aggregate amount of upto ₹10,000 crore, subject to the receipt of necessary approvals".

Swiggy, which owns food delivery and quick commerce businesses, had recently said the external environment is competitive and

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