Columns

BigB, Dravid, KJo and also various other top personalities get a portion of Swiggy's pre-IPO pie, ET Retail

.A range of famous personalities coming from home entertainment, sports, as well as business are actually subscribing food items and grocery store shipping disruptor Swiggy by means of the unlisted market in advance of its IPO despite competitors coming from competitors from players like Zomato as well as Zepto.In a current sphere, Swiggy's pre-IPO allotments were actively stocked the unlisted market, with about 200,000 allotments currently acquired by prominent individuals, mentioned folks involved in the transactions.Notable financiers in the company feature cricketers Rahul Dravid as well as Zaheer Khan, ping pong celebrity Rohan Bopanna, workshop proprietor Karan Johar, and also actor and entrepreneur Ashish Chowdhry. "Swiggy has significantly improved the food items shipment yard in India, and joining their evolution vows to be very rewarding. The business's constant development, extending coming from food items shipping to grocery companies, has actually contributed in keeping its own one-upmanship in the sector," claimed Ashish Chowdhry, founder of Disrptve Ventures and also an actor.Earlier as well Swiggy saw expenditures coming from Bollywood images and also business owners like Madhuri Dixit Nene, Amitabh Bachchan, and Ritesh Malik, creator of Innov8, participate in the business's pre-IPO arounds through the secondary market. Swiggy's surge in the food items distribution sector has actually been actually fantastic, installing it as one of India's top tech startups. Beyond its results in food distribution, Swiggy is evolving right into a varied system, checking out brand-new verticals like fast commerce as well as hyperlocal logistics. "I definitely believe in supporting ingenious business with tough company styles that positively impact culture. This investment isn't nearly higher development potential, but likewise concerning supporting a company that's molding the future of metropolitan living and buyer benefit in some of the globe's fastest-growing markets," claimed Zaheer Khan, a past India cricket player." The passion coming from sporting activities as well as enjoyment figures in Swiggy's pre-IPO allotments indicate a broader trend through which high-net-worth individuals are more and more diversifying their profiles by acquiring technology startups with higher growth potential," mentioned an individual aware of the packages. Swiggy, along with its own sturdy market existence and ingenious offerings like Swiggy Instamart, has actually confirmed to become a promising bet for real estate investors wanting to capitalise on the flourishing meals tech sector.According to specialists, famous people, especially, are actually drawn to pre-IPO assets since they provide notable upside potential once the company goes community. Zomato's stock market debut in 2021 viewed frustrating demand, with its shares surging on listing, delivering early clients attractive exits.The prepared IPO adheres to a collection of effective fund rears by Swiggy, which have actually drawn financial investments coming from international financial backing titans like SoftBank Sight Fund, Accel, and Prosus.The company has additionally raised capital with additional markets, where it has actually brought in an unique team of real estate investors. Motilal Oswal Financial Services leader Raamdeo Agrawal has actually likewise acquired a concern in Swiggy as well as automobile products maker Hindustan Composites.
Published On Sep 25, 2024 at 09:30 AM IST.




Participate in the neighborhood of 2M+ market specialists.Sign up for our e-newsletter to obtain most up-to-date insights &amp study.


Download And Install ETRetail Application.Acquire Realtime updates.Spare your favourite short articles.


Check to install Application.

Articles You Can Be Interested In