News Corporate Actions Swiggy Limited Files Q3FY26 Monitoring Agency Reports for IPO and QIP Proceeds UtilizationSwiggy Limited Files Q3FY26 Monitoring Agency Reports for IPO and QIP Proceeds Utilization
Swiggy Limited submitted Q3FY26 monitoring reports showing IPO proceeds utilization of Rs 4,909.05 million during the quarter, bringing total deployment to Rs 33,430.23 million from Rs 44,990.00 million raised. QIP proceeds saw minimal utilization of Rs 1,195.38 million from the Rs 1,00,000.00 million raised in December 2025. Unutilized funds are strategically invested across fixed deposits, corporate bonds, and mutual funds, generating returns between 5.05% to 7.50%. Both reports confirm no deviations from disclosed objectives.
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Swiggy Limited has submitted its quarterly monitoring agency reports for the quarter ended December 31, 2025, detailing the utilization of proceeds from both its Initial Public Offer (IPO) and Qualified Institutional Placement (QIP). The reports, prepared by CRISIL Ratings Limited as the monitoring agency, were reviewed by the company's Audit Committee and approved by the Board on January 29, 2026.
IPO Proceeds Utilization Status
The IPO monitoring report reveals significant progress in fund deployment across various strategic objectives. During Q3FY26, the company utilized Rs 4,909.05 million, bringing the cumulative utilization to Rs 33,430.23 million from the total gross proceeds of Rs 44,990.00 million.
| Utilization Category: | Amount Utilized (Rs million) | Remaining Balance (Rs million) |
|---|---|---|
| Investment in Scootsy for debt repayment: | 1,648.00 | Nil |
| Dark Store network expansion: | 5,577.71 | 1,976.29 |
| Lease payments for Dark Stores: | 1,208.10 | 3,024.90 |
| Technology and cloud infrastructure: | 3,889.16 | 3,144.84 |
| Brand marketing and promotion: | 8,365.61 | 2,787.39 |
| Inorganic growth and general corporate purposes: | 11,370.67 | 597.15 |
The company has fully utilized the allocated funds for debt repayment in its material subsidiary Scootsy, while other objectives show varying degrees of progress. The monitoring agency noted that Rs 6,283.53 million was transferred from monitoring accounts to various current accounts for operational ease.
QIP Proceeds Deployment
The QIP, which raised Rs 1,00,000.00 million through the issuance of 26,66,66,663 equity shares during December 9-12, 2025, shows minimal utilization in its initial quarter. Only Rs 1,195.38 million was utilized during Q3FY26, primarily for general corporate purposes.
| QIP Object: | Allocated Amount (Rs million) | Utilized Amount (Rs million) |
|---|---|---|
| Quick commerce fulfillment network expansion: | 44,750.00 | Nil |
| Technology and cloud infrastructure: | 9,850.00 | Nil |
| Brand marketing and promotion: | 23,400.00 | Nil |
| Inorganic growth and general corporate purposes: | 21,186.43 | 1,195.38 |
The utilized amount was allocated toward administrative expenses (Rs 747.96 million) and meeting expenses in the ordinary course of business (Rs 447.42 million).
Fund Deployment Strategy
Unutilized proceeds from both offerings are strategically deployed across various investment instruments to generate returns while maintaining liquidity. The IPO proceeds totaling Rs 11,772.82 million are invested in:
- Fixed Deposits: Multiple deposits with HDFC Bank, Axis Bank, ICICI Bank, and HSBC Bank offering returns between 5.05% to 7.50%
- Current Account Balances: Maintained across various banks for operational requirements
The QIP proceeds of Rs 98,804.61 million are diversified across:
- Fixed Deposits: Rs 38,000.00 million in deposits with HDFC Bank and Axis Bank
- Corporate Deposits: Rs 13,875.00 million with Shriram Finance, Bajaj Finance, and Mahindra Financial Services
- Bonds/NCDs: Rs 14,455.57 million in instruments from various financial institutions
- Mutual Funds: Rs 31,782.62 million across liquid and low-duration funds
Regulatory Compliance and Monitoring
Both reports confirm no deviations from the objects disclosed in the respective offer documents. The monitoring agency verified that all utilizations align with the stated purposes, with no material deviations requiring shareholder approval. The company has maintained proper documentation through peer-reviewed independent chartered accountant certificates from M/s Manian & Rao.
Investment Returns and Performance
The deployment strategy has generated earnings of Rs 577.15 million on IPO proceeds and Rs 255.32 million on QIP proceeds as of December 31, 2025. The diversified investment approach across fixed deposits, corporate deposits, bonds, and mutual funds provides a balanced risk-return profile while ensuring fund availability for planned business objectives.
The reports demonstrate Swiggy's systematic approach to capital deployment, with the IPO proceeds showing active utilization across expansion and technology initiatives, while QIP proceeds remain largely available for future strategic investments in quick commerce infrastructure and market expansion activities.
Historical Stock Returns for Swiggy
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.28% | -2.06% | -16.39% | -19.52% | -20.27% | -28.15% |
