- By Aditya Pratap Singh
- Wed, 28 Aug 2024 05:41 PM (IST)
- Source:JND
Mega Start Amitabh Bachchan's Family Office has reportedly acquired a small stake in Swiggy, a well-known Indian food delivery and quick commerce firm. An investment from a well-known personality demonstrates the growing interest of well-known people and major investors in the quick commerce industry.
Swiggy has been expanding its operations significantly and attracting the attention of various investors with its quick delivery service business. Amitabh Bachchan’s family office bought shares from some of Swiggy’s employees and early investors to make this move. The acquisition demonstrates Swiggy’s confidence in its business model and future growth prospects.
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High-net-worth individuals are showing interest
The investment from Amitabh's family reflects a huge interest among high-net-worth individuals and family offices in diversifying their portfolios by investing in startups. Swiggy, Zomato, and other quick-commerce companies have been at the forefront of this trend given the potential for rapid growth and expansion in urban markets.
Motilal Oswal's chairman has also invested
Ramdev Agarwal, chairman of Motilal Oswal Financial Services, has also purchased a stake in Swiggy. Bachchan’s family, as well as his, are making a strategic investment in fast-trade businesses, particularly as these companies are increasingly raising funds and planning significant expansion. Agarwal has also invested in Zepto, another competitor in the fast-trade industry, which raised a substantial $665 million in its funding round.
Swiggy is all set to float IPO
Swiggy is reportedly all set for an initial public offering (IPO) with an estimated valuation of $1.25 billion. The anticipated IPO is part of Swiggy’s strategy to strengthen its market position and expand further. The company’s decision to go public reflects its maturity and stakeholders’ confidence in its continued growth and profitability.
Secondary share sales, such as those related to Amitabh Bachchan’s family offices, suggest that Swiggy’s value is between $10 billion and $11 billion. This assessment demonstrates the market’s high expectations for Swiggy’s future performance. Such high valuations are typical of tech-driven companies that have the potential to rapidly scale and disrupt traditional markets.