Swiggy Limited has published the Monitoring Agency Reports for the quarter ended March 31, 2026, confirming the utilization of proceeds from its Initial Public Offer (IPO) and Qualified Institutional Placement (QIP). The reports verify that the funds are being deployed in alignment with the objects stated in the respective offer documents, including investments in its material subsidiary, technology infrastructure, brand marketing, and inorganic growth initiatives.
IPO Proceeds Update
For the IPO, which raised Rs 44,990 million in fresh issue proceeds, the Company has utilized Rs 36,451.55 million as of March 31, 2026. Major allocations included Rs 11,027.20 million for brand marketing and business promotion, and Rs 11,370.67 million for funding inorganic growth and general corporate purposes. The unutilized balance of Rs 7,138.27 million is currently parked in various fixed deposits and current accounts, earning returns as per standard treasury practices.
QIP Proceeds Deployment
Regarding the QIP, which generated Rs 100,000 million, the Company has utilized Rs 6,134.37 million by the end of the quarter. Significant utilization in this segment includes Rs 4,911.42 million for inorganic growth and general corporate purposes, alongside Rs 670.25 million for issue-related expenses. The remaining Rs 93,865.63 million is strategically deployed in high-quality instruments, including fixed deposits, corporate deposits, and bonds to ensure optimal capital management.
Operational Progress and Outlook
The Audit Committee and the Board of Directors have reviewed and approved these findings. While there has been a minor delay in the implementation schedule for certain lease and license payments for dark stores, the Company has clarified that this is primarily due to delays in invoice processing. Management remains committed to deploying the remaining funds in accordance with the business needs of the Company and its material subsidiary, Scootsy, to enhance fulfillment infrastructure and technology capabilities.
Source: BSE
