Amitabh Bachchan’s family office has acquired a stake in Swiggy, a major player in the quick commerce sector, according to the Economic Times. While the financial specifics of the deal have not been disclosed, the move is significant given the growing interest in faster delivery services.
This investment comes as Swiggy prepares for an initial public offering (IPO) with a target valuation of $15 billion. The stake was reportedly acquired by purchasing shares from the company’s employees and early investors.
In addition to Bachchan’s investment, Motilal Oswal Financial Services chairman, Raamdeo Agrawal, also invested in Swiggy and Zepto, another quick-commerce firm. These transactions were based on an estimated valuation of $10-11 billion for Swiggy.
Swiggy’s upcoming IPO, aimed at raising $1-1.2 billion, is expected to be one of India’s largest this year, as the company continues to compete with Zomato in the online food delivery market and expand its quick commerce services.
