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 has picked up a small stake in Swiggy, 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.
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.
