Swiggy Limited has submitted its Monitoring Agency Reports for the quarter ended June 30, 2026. These reports, issued by CRISIL Ratings Limited, detail the utilization of proceeds from the company’s Initial Public Offer (IPO) and Qualified Institutional Placement (QIP). The utilization aligns with the objects disclosed in the respective offer documents and has been reviewed and approved by Swiggy’s Audit Committee and Board.
Swiggy Limited Reports on Fund Utilization
Swiggy Limited has officially filed its Monitoring Agency Reports concerning the utilization of funds raised through its Initial Public Offer (IPO) and Qualified Institutional Placement (QIP). The reports cover the financial quarter ending June 30, 2026.
IPO Proceeds Monitoring
For the Initial Public Offer (IPO), CRISIL Ratings Limited, acting as the Monitoring Agency, has confirmed that the utilization of IPO proceeds for the quarter ended June 30, 2026, was in line with the objects disclosed in the Offer Document. Key uses included investment in material subsidiary, expansion of the Dark Store network, lease/license payments for Dark Stores, technology and cloud infrastructure, and brand marketing initiatives. The original cost of these objects was ₹43,589.82 million, with ₹1,400.18 million allocated for Fresh Issue expenses.
QIP Proceeds Monitoring
Similarly, for the Qualified Institutional Placement (QIP), the Monitoring Agency report indicates that the proceeds were utilized in accordance with the placement document. The disclosed objectives for the QIP funds include investment in the expansion and operations of the quick commerce fulfillment network, technology and cloud infrastructure, brand marketing and business promotion, and funding inorganic growth. The total gross proceeds for the QIP amounted to ₹1,00,000.00 million, with ₹813.57 million accounted for issue expenses.
Board and Committee Review
Both the IPO and QIP reports for the quarter ended June 30, 2026, have undergone a thorough review by Swiggy Limited’s Audit Committee. Subsequently, the Board of Directors approved these reports at their meeting held on Thursday, July 30, 2026. The company has made this information available on its corporate website.
Financial Details from IPO Monitoring
Cost of Objects (IPO)
The detailed breakdown of the original costs for the IPO objects monitored includes:
- Investment in Material Subsidiary, Scootsy (Repayment of borrowings): ₹1,648.00 million
- Investment in Material Subsidiary, Scootsy (Expansion of Dark Store network): ₹7,554.00 million
- Investment in Material Subsidiary, Scootsy (Lease/license payments for Dark Stores): ₹4,233.00 million
- Investment in technology and cloud infrastructure: ₹7,034.00 million
- Brand marketing and business promotion expenses: ₹11,153.00 million
- Funding inorganic growth: ₹11,967.82 million
- Sub-total of objects: ₹43,589.82 million
- Expenses in relation to Fresh Issue: ₹1,400.18 million
- Total Gross Proceeds: ₹44,990.00 million
Utilization Progress (IPO)
As of June 30, 2026, the total utilized amount from the IPO proceeds was ₹37,926.61 million, with ₹5,663.21 million remaining unutilized. The deployment of unutilized proceeds primarily includes investments in fixed deposits and current accounts with various banks and financial institutions totaling ₹5,663.39 million.
QIP Financials
The QIP issue size was ₹1,00,000.00 million, with gross proceeds of ₹1,00,000.00 million and issue expenses of ₹813.57 million, resulting in net proceeds of ₹99,186.43 million.
The progress in QIP object utilization as of June 30, 2026, shows a total utilized amount of ₹12,481.62 million against the original cost of ₹99,186.43 million. The unutilized amount stands at ₹86,704.82 million. Notably, funds transferred to current accounts for operational ease are ₹12,699.91 million.
The reports confirm that there were no major deviations from the stated objects and no delays in the implementation schedule for the IPO objects as of July 16, 2026. For the QIP, a delay was noted in the implementation of the expansion of the quick commerce fulfillment network due to invoice submission and processing delays, with utilization expected in subsequent quarters.
Source: BSE
