Swiggy’s board has approved the company’s plan to raise INR 10,000 Cr (about $1.1 Bn) in funding via a mix of public or private market issuances

Swiggy's board approves raising up to ₹10,000 crore through QIP to enhance growth capital amid a competitive environment.

Indian food and grocery delivery firm Swiggy on Friday said its board approved plans to raise up to 100 billion rupees($1.14 billion) via qualified institutional placement (QIP) as it seeks to shore up capital for growth.Companies use the QIP route to raise funds from large institutions such as mutual funds.