Amitabh Bachchan’s family office buys stake in Swiggy, deal amount not disclosed

Swiggy Update: Bollywood king Big B Amitabh Bachchan’s family office has bought a stake in Quick Commerce giant Swiggy. Before Swiggy’s IPO is being prepared, it is very important for Big B’s family office to buy a stake in Swiggy. However, the amount for which this deal was made has not been disclosed.

This report has come out quoting Economic Times. Swiggy is an online food delivery company and the company also does grocery delivery within 10 minutes under the name Swiggy Instamart. In recent times, investors’ interest in the quick commerce industry is continuously increasing. Apart from Swiggy, Zomato and Zepto are also included in the field of online grocery. Swiggy and Zomato, both rival companies, are also present in the field of online food delivery.

Zomato is already a company listed on the stock exchange. While Swiggy is preparing to get listed on the stock exchange by bringing an IPO. It is expected that Swiggy can raise up to Rs 8500 – 10,000 crore from the capital market through IPO. The company is aiming for a value of $ 15 billion. American investor Baron Capital has estimated Swiggy’s valuation at $ 14.74 billion by June 2024. In April 2024 this year, Swiggy has received approval from shareholders to launch an IPO.

Earlier, Indian stock market veteran and Motilal Oswal Financial Services’ Ramdeo Agrawal has also bought stakes in Swiggy and Zepto. Even before the launch of the IPO, Swiggy’s stock is seeing big movement in the unlisted market. Earlier, Swiggy’s stock was available at Rs 350 per share, which is now trading at around Rs 450.

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