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Amitabh Bachchan's family office picks up stake in Swiggy

Amitabh Bachchan's Family Office and Motilal Oswal chairman Raamdeo Agarwal have picked up stake in Swiggy at a time when funding in the quick commerce space has reached an all-time high.

Amitabh Bachchan's family office picks up stake in Swiggy

Wednesday August 28, 2024 , 2 min Read

Amitabh Bachchan’s family office has picked up a small stake in SwiggySwiggy, according to a report by The Economic Times

The report also stated that Motilal Oswal Financial Services chairman Raamdeo Agrawal has acquired a small stake in the IPO-bound food tech giant. This comes after Agarwal picked up a stake in quick commerce unicorn Zepto in the company’s $665 million funding round. 

The cheques are of sizable amount for individual investors and the secondary transactions are believed to have happened by assigning a valuation of around $10-11 billion to Swiggy, mentioned the report. 

Swiggy did not respond to queries sent by YourStory

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Paytm sells event ticketing biz to Zomato for Rs 2,048 crore

Sriharsha Majety-led Swiggy plans to file its IPO papers by the the first week of September, as reported by YourStory earlier. 

The food giant plans to raise Rs 10,400 crore ($1.28 billion) through its initial public offering (IPO), in a valuation between $15- $17 billion. The company had filed its DRHP in April after receiving shareholder approval for its IPO, which is expected to comprise of a fresh issue Rs 3,750 crore or $450 million and an offer for sale worth Rs 6,664 crore or around $800 million.

These developments come on the heels of robust quarterly figures posted by its listed peer Zomato and fundraise by Aadit Palicha-led Zepto.