Ahead of Swiggy’s IPO expected later this year, a host of celebrities have sought the food delivery and quick-commerce platform’s shares.
In a recent round of unlisted market trades, a host of high net-worth individuals (HNIs), such as sportspersons Rahul Dravid, Zaheer Khan, Rohan Bopanna, filmmaker Karan Johar, and actor-entrepreneur Ashish Chowdhry, have acquired around 200,000 shares of Swiggy, according to The Economic Times.
This is not the first time that celebrity HNIs have shown an interest in Swiggy. Previously, actors Madhuri Dixit Nene and Amitabh Bachchan and entrepreneur Ritesh Malik have invested in the company.
A person aware of the matter told the ET that the trend shows that HNIs are now looking forward to diversify their investment portfolio.
“The interest from sports and entertainment figures in Swiggy’s pre-IPO shares points to a broader trend in which high-net-worth individuals are increasingly diversifying their portfolios by investing in tech startups with high growth potential,” said the person to ET.
In a statement to ET, actor-entrepreneur Ashish Chowdhry said, “Swiggy has significantly transformed the food delivery landscape in India, and participating in their evolution promises to be highly lucrative. The company’s consistent innovation, spanning from food delivery to grocery services, has been instrumental in maintaining its competitive advantage in the industry.
Even though no date has been released, it has been reported that the Swiggy IPO may take place in November.
Initially, Swiggy was expected to raise $1.25 billion through the IPO by raising $450 million through a fresh issue of shares and $800 million from offer-for-sale. Now, Moneycontrol has reported that the company has revised the plan and is looking forward to raise around $1.4 billion with the additional $150 million coming in via a fresh issue.
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Dravid to Bopanna to Karan Johar: Celebrities who bought Swiggy shares in recent round
