Monitoring Agency Report for the quarter ended March 31, 2026
SWIGGY · price
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Swiggy Limited has submitted its Q4 FY2026 Monitoring Agency Report covering two capital raises: the November 2024 IPO (Rs 11,327.43 crore total, Rs 4,499 crore fresh issue) and the December 2025 QIP (Rs 10,000 crore). For the IPO, Rs 3,785.17 crore (84%) has been utilized out of Rs 4,359 crore net proceeds, with Rs 713.83 crore remaining parked in fixed deposits. For the QIP, only Rs 613.44 crore (6.1%) has been utilized out of Rs 9,918.64 crore net proceeds, with Rs 9,386.56 crore largely invested in fixed deposits and corporate deposits with institutions like HDFC, Axis Bank, ICICI, Shriram Finance, Bajaj Finance, and Mahindra Finance. CRISIL Ratings Limited, the monitoring agency, confirms no deviations from stated objects. One minor operational delay was noted: Dark Store lease/license payments were Rs 1,503.02 crore against a planned Rs 1,546 crore for FY2026 due to invoice processing delays.
The filing shows Swiggy is gradually deploying IPO proceeds as planned while QIP funds remain largely invested, suggesting a phased capital deployment strategy for its quick commerce expansion. The minimal utilization of QIP proceeds indicates the company is taking a cautious approach to spending. No material deviations were reported, which is positive for shareholder confidence.