Swiggy IPO: Madhuri Dixit Enters The Game With Rs 1.5 Crore Stake

Swiggy is preparing for an IPO, aiming for a $15 billion valuation

Swiggy IPO: Madhuri Dixit, along with Ritesh Malik, founder of co-working space Innov8 (now owned by Oyo), jointly invested Rs 3 crore in Swiggy, with each contributing Rs 1.5 crore.

Source : PTI

Swiggy IPO: Leading Bollywood actor Madhuri Dixit has made a strategic investment in food and grocery delivery start-up Swiggy, ahead of its anticipated public market debut later this year, according to sources familiar with the matter. The investment, facilitated through a secondary market transaction, was reported by Moneycontrol. Swiggy is preparing for an IPO, aiming for a $15 billion valuation.

Dixit, along with Ritesh Malik, founder of co-working space Innov8 (now owned by Oyo), jointly invested Rs 3 crore in Swiggy, with each contributing Rs 1.5 crore. Both became equal shareholders in the company through this deal. The transaction was reportedly managed by Swiggy's investment banker, Avendus.

A secondary market transaction involves the sale of shares by an existing investor to a new investor, without the company's direct involvement. Dixit and Malik acquired Swiggy shares at Rs 345 per share, according to the report.

While ABP Live has not independently verified the development, Dr. Shriram Nene, Dixit's husband, spoke to Moneycontrol about their broader investment strategy in India’s burgeoning startup ecosystem. "We moved from the US where the startup ecosystem was booming, to India, where startups were just taking shape. Our family office is now actively participating in the unlisted space, sometimes in a purely financial capacity, and in other cases, more strategically," Nene said.

Although Nene did not confirm the Swiggy investment specifically, he highlighted the unique and diverse opportunities presented by India's consumer markets.

Meanwhile, actor Amitabh Bachchan's family office has acquired a minor stake in Swiggy. Although the financial terms of the deal have not been revealed, the investment is seen as notable. This move comes amid increasing interest in the quick-commerce sector, driven by the growing demand for faster delivery services.