In the fast-paced world of food and grocery delivery, Swiggy, one of India’s top tech startups, is making waves ahead of its much-anticipated Initial Public Offering (IPO). A range of high-profile celebrities from the entertainment industry, sports, and business are getting a slice of Swiggy’s pre-IPO pie, showcasing their faith in the company’s growth potential.
Despite fierce competition from rivals like Zomato and Zepto, Swiggy’s robust position in the market continues to attract major investors.
In a recent trading round in the unlisted market, Swiggy’s pre-IPO shares were actively traded, with around 200,000 shares already acquired by prominent figures from diverse fields. People involved in these transactions reported the involvement of well-known personalities such as former Indian cricketers Rahul Dravid and Zaheer Khan, tennis star Rohan Bopanna, Bollywood director and producer Karan Johar, and actor-turned-entrepreneur Ashish Chowdhry.
Speaking about his investment, Ashish Chowdhry, founder of Disrptve Ventures, 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.”
Ashish Chowdhry, actor and founder of Disrptve Ventures, acquires stake in Swiggy's Pre-IPO
https://t.co/XZ712ZZVAR via @moneycontrolcom
— Chandra R. Srikanth (@chandrarsrikant) September 25, 2024
Rahul Dravid, Karan Johar, and Ashish Chowdhry join a growing list of celebrities who have backed Swiggy over the years. Bollywood icons and entrepreneurs like Madhuri Dixit Nene, Amitabh Bachchan, and Innov8 founder Ritesh Malik also participated in Swiggy’s earlier pre-IPO rounds through the secondary market.
Swiggy’s rise in the food delivery sector has been nothing short of phenomenal, positioning it as a leading force in India’s tech ecosystem. In addition to its success in food delivery, the company is diversifying into new verticals such as quick commerce (Swiggy Instamart) and hyperlocal logistics, further strengthening its position in the market.
Former Indian cricketer Zaheer Khan, another key investor, emphasized the broader impact Swiggy is having on society:
“I strongly believe in supporting innovative companies with strong business models that positively impact society. This investment isn’t just about high growth potential but also about backing a brand that’s shaping the future of urban living and consumer convenience in one of the world’s fastest-growing markets.”
According to experts, celebrities are particularly drawn to pre-IPO investments due to the significant upside potential once the company goes public. Zomato’s successful stock market debut in 2021 is a case in point, with its shares surging after listing, providing early investors with attractive exits. Swiggy’s upcoming IPO is generating similar excitement.
*“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 a person familiar with the deals.
Swiggy’s planned IPO comes on the back of successful fundraising rounds, attracting global venture capital heavyweights such as SoftBank Vision Fund, Accel, and Prosus.
In addition to these major players, Swiggy has raised capital through secondary markets, drawing in a diverse group of investors, including financial magnate Raamdeo Agrawal, chairman of Motilal Oswal Financial Services, and Hindustan Composites, an automotive materials manufacturer.
With its strong market presence, innovative offerings, and the support of celebrity investors, Swiggy is well-positioned to continue its journey as a leader in India’s food tech sector. As it gears up for its IPO, the company offers a promising avenue for investors looking to capitalize on the growth of the food and grocery delivery industry in one of the world’s fastest-growing markets.
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