India, Dec. 13 -- Listed foodtech giant Swiggy has raised INR 10,000 Cr (around $1.2 Bn) through its qualified institutional placement (QIP) by issuing 26.7 Cr equity shares.

In an exchange filing, the company said that it allocated the new shares at INR 375 apiece, a discount of about 4% to the floor price of INR 390.5.

Earlier this week, sources told Inc42 that Swiggy's QIP saw strong demand and received most of the bids at around INR 375 per share. The QIP saw interest from leading mutual funds like SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, and Kotak Mahindra Mutual Fund.

Out of the total capital raised, Swiggy plans to deploy INR 4,475 Cr towards expanding and operating its quick commerce fulfilment network. ...