Swiggy’s ₹10,000-crore qualified institutional placement (QIP) was subscribed 4.5 times, signalling strong investor confidence. Jignanshu Gor, Director & Senior Research Analyst at Bernstein said the company now has the firepower it needs to compete more directly with Blinkit.

India’s quick commerce sector is entering a new, aggressive phase, with large fundraises, intense competition, and rising questions about long-term profitability. Calling it a true “war chest”, he explained that Swiggy wanted to strengthen its balance sheet not only for competition, but also to bring in more domestic investors.

Blinkit, however, still has a much stronger cash position. “Between the two of them, now you have ₹35,000 crore of cash… largely in terms of discounts,” he said. This means customers may c

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