"Amitabh Bachchan's Family Office Invests in Swiggy: Report"

Amitabh Bachchan's Family Office Invests in Swiggy: Swiggy sold a small number of the shares to the Bollywood actor Amitabh Bachchan’s family office, as per the sources that include some of the employees and early investors sources the report Economic Times on Wednesday, August 28.

Fast-food delivery platforms including the especially popular and new generation companies like Swiggy are seen by investors as the most attractive to invest in based on the report.

Currently there is a trend that the companies of quick-commerce are raising funds at an orgiastic pitch when it goes to funds to be bought and Chairman of Motilal Oswal Financial Services Raamdeo Agrawal has also purchased the stake in this company, the report said.

Agrawal also bought shares in the competitor of Zepto quick-commerce from its $665 Mn funding round, the news company stated, according to some insiders.

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The report also highlighted that the amount that has been invested cannot be known and these are big cheques to individual investors they said anonymously. According to this report, Swiggy is expected to go for an IPO of $1. 25 billion.

These secondary share sales are said to have occurred by giving Swiggy nearly $10-11 billion valuation at the time, as the news company sources pointed out.

Raamdeo Agrawal and Zepto did not answer and we did not receive any replies from Amitabh Bachchan’s family office or from Swigry when asking them through the news company.

Zomato, a Swiggy rival's turnaround and the growth of its Blinkit business returns focus back into the industry, the reason “why investors are placing these bets,” told ET, an investor is aware of the development.

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“Swiggy is in a very advanced stage of going public, while Zepto has outlined plans in the next few years too,” they said.

“Blinkit offers a generational opportunity to participate in the disruption of industries such as retail, grocery and e-commerce,” as per the research note from Motilal Aswal on August 2.

In an internal note by Swiggy investor 360 One WAM, the company reported ₹7,474 crore in revenue for the first half of the financial year 2024, the report said.

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