Monitoring Agency Report for the quarter ended June 30, 2025.
SWIGGY · price
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Swiggy filed its Q1FY26 Monitoring Agency Report (prepared by CRISIL Ratings) on the deployment of IPO proceeds raised in November 2024. The company raised Rs 44,990 million via the fresh issue, of which Rs 43,589.82 million is being tracked as net proceeds after issue expenses. During the quarter, Swiggy deployed Rs 9,549.89 million, taking cumulative utilization to Rs 18,794.49 million (about 42% of fresh issue proceeds). The biggest deployments this quarter were Rs 3,535.82 million toward inorganic growth/general corporate purposes and Rs 2,115.22 million toward brand marketing and promotions. The Rs 1,648 million earmarked for Scootsy (subsidiary) debt repayment has been fully utilized, while Rs 26,195.51 million remains unutilized and is parked in fixed deposits with HDFC, Axis, and ICICI Banks earning 7.0%-7.5% interest. CRISIL reported no deviation from the stated objects of the issue and no major deviation versus earlier monitoring reports.
The report confirms Swiggy is deploying IPO funds in line with its stated plans with no deviations — a positive compliance signal for shareholders. However, with nearly 58% of fresh issue proceeds still unutilized, investors will watch for tangible outcomes, especially in quick commerce dark store expansion and technology investments, to translate spending into revenue and profitability growth.