Stake sale · Commerce & Consumer Brands

Amitabh Bachchan's family office buys Swiggy stake

By Startup Enthusiast · 28 August 2024

What they do

Swiggy is a food delivery and quick-commerce platform competing with Zomato and Blinkit

Amitabh Bachchan's family office and Raamdeo Agrawal bought minority stakes from employees and early investors

Swiggy is preparing for an IPO with a target valuation of $15 billion and may file DRHP in early September 2024

Amitabh Bachchan's family office acquired a minority stake in Swiggy.
The stake was purchased from Swiggy employees and early investors.
Financial details of the transaction were not disclosed but described as 'significant'.
Raamdeo Agrawal also acquired a stake in Swiggy in a separate transaction.
Swiggy aims to go public with a target valuation of $15 billion.
The company may file its draft red herring prospectus (DRHP) with SEBI as early as the first week of September 2024.

The stake purchase comes as Swiggy gears up for its IPO, attracting high-profile investors.
Zomato, Swiggy's main competitor in food delivery, has a public market valuation of over $27 billion.
Swiggy also competes with Blinkit and Zepto in the quick-commerce segment.

Swiggy competes with Zomato in food delivery and with Blinkit and Zepto in quick-commerce.

Amitabh Bachchan's family office (buyer) — Family office of actor Amitabh Bachchan.
Raamdeo Agrawal (buyer) — Indian investor and co-founder of Motilal Oswal Financial Services.