Restaurant India News: Quick Commerce Fight Intensifies as Swiggy, Zepto Eye Rs 15,000-Crore Public Market Raise

The race for dominance in India’s quick-commerce sector is intensifying as Swiggy and Zepto prepare major fundraises ahead of potential market listings. Together, the companies could raise as much as ₹15,000 crore as they compete for the No. 2 spot behind market leader Blinkit.

Blinkit, which holds more than 50% market share according to a BofA note, reported cash reserves of ₹18,314 crore as of September 30. Swiggy has ₹4,605 crore and Zepto about ₹7,000 crore in hand.

Swiggy is pitching a qualified institutional placement of up to ₹10,000 crore and, along with proceeds from its stake sale in Rapido, is expected to reach roughly ₹17,000 crore in cash. Zepto is reportedly preparing a confidential filing to raise around ₹4,000 crore.

The contest for second place has sharpened in recent months, driven by Zepto’s aggressive fee waivers and promotions, which have boosted its order volumes and given it an edge over Swiggy Instamart. Swiggy, however, has disputed brokerage claims that Instamart has lost share to Zepto.

The rivalry has also pushed up sector-wide cash burn. In Q3, Swiggy’s consolidated burn rose to ₹740 crore, while Eternal’s stood at ₹543 crore. Zepto’s burn has climbed to more than ₹500 crore a month on a gross order value of about ₹2,000 crore.