Winning Bizness Desk
Mumbai. Bollywood legend Amitabh Bachchan and Motilal Oswal Financial Services Chairman Ramdev Agarwal have made significant investments in Swiggy, one of India's leading online food delivery companies. As Swiggy gears up for its much-anticipated Initial Public Offering (IPO), these investments are expected to further bolster the company's valuation and market presence. Amitabh Bachchan's investment was made through the purchase of shares from Swiggy's employees and early investors, signaling confidence in the company's growth prospects. Ramdev Agarwal, who recently invested ₹66.5 crore in the quick-commerce firm Zepto, has also put substantial funds into Swiggy. These investments by high-profile figures reflect the strong potential seen in the online food delivery market, especially with Swiggy's expanding operations. Swiggy is preparing to raise approximately ₹10,400 crore (around $1-2 billion) through its upcoming IPO, which is expected to value the company at a staggering ₹1.25 lakh crore ($15 billion). If successful, this IPO could be one of the largest in India’s history, marking a significant milestone for the company. Swiggy’s IPO is highly anticipated by investors, given the company’s dominant position in the Indian food tech space.
Competitive Landscape
Swiggy has been in fierce competition with Zomato, another major player in the Indian food delivery market. Over the past few years, Swiggy has not only strengthened its food delivery business but has also diversified its services. The company now offers grocery delivery through Instamart and has introduced Swiggy Genie for pick-and-drop services, further solidifying its market share.
Backing by Prominent Investors
In addition to the investments by Bachchan and Agarwal, Swiggy has received backing from global investors, including Japan’s SoftBank, led by Masayoshi Son. This support has enabled Swiggy to scale its operations and maintain a strong presence in the rapidly growing Indian market. As Swiggy moves closer to its IPO, the company’s strategic moves and high-profile investments are expected to play a crucial role in its future growth and market dominance. The IPO is set to attract significant attention from both retail and institutional investors, eager to be part of one of India's largest tech companies.
