Clarification on press release and media articles on financing programme for NOICE partners

Swiggy clarifies media reports on NOICE partner financing.

Mon 5 Oct 2026

Partner institutions

SIDBI, Axis Bank and InCred

Credit exposure

Partner institutions fund, assess credit and bear the credit exposure

Capital deployment

No funding or capital deployment from Swiggy or group balance sheets

Swiggy has issued a clarification to the stock exchanges about media reports on a financing programme for NOICE partners.

Context

The clarification refers to media reports published on Oct 5, 2026, titled "Instamart's NOICE to double its food entrepreneur base, scale product range to 500+".

What the company clarified

• The financing programme mentioned in the communication is being facilitated in partnership with financial institutions including SIDBI, Axis Bank and InCred.
• Neither Swiggy Limited nor Swiggy Neocap Private Limited will bear any credit exposure in relation to the financing extended under the programme.
• The respective partner institutions will fund and extend the loans and credit facilities.
• These institutions will independently undertake the applicable credit assessment and bear the associated credit exposure.
• The programme does not involve funding or deployment of capital from the balance sheets of Swiggy Limited or its group companies.

Why the company gave this clarification

The company states the clarification is to ensure the nature of the financing arrangement is accurately reflected in the context of the media reports. In simple terms, the loans under this programme are given by the partner financial institutions, and the company says the money does not come from its own or its group companies' balance sheets.

How to read this

This is a clarification of an existing communication rather than a fresh announcement of new business terms. The main point a reader can take away is the company's statement that the credit exposure on these loans sits with the partner institutions and not with Swiggy Limited or Swiggy Neocap Private Limited.

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