Swiggy gets board nod to raise Rs 10,000 crore. (Image: Vijay Sartape/NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Swiggy Ltd.'s board of directors have approved its plan to raise up to Rs 10,000 crore via qualified institutional placements and other means, according to an exchange filing on Friday.

The filing stated that Swiggy has received board nod to explore more than one route for raising funds, primarily via private or public placements.

The fundraise comes as the food delivery and quick-commerce company faces fierce competition in the quick commerce space from close rivals like Blinkit and Zepto.

Rahul Bothra, Chief Financial Officer (CFO) at Swiggy, in an interview with NDTV Profit said, "We have seen continued heightened investments in the sec

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