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Madhuri Dixit has invested in food delivery startup Swiggy ahead of its IPO, buying shares worth Rs 1.5 crore.
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Dixit, along with Ritesh Malik, founder of Innov8, bought shares from the secondary market, facilitated by Swiggy’s investment banker Avendus.
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Swiggy is expected to list on the stock exchanges later this year in a $1.4 billion IPO.
Bollywood actor Madhuri Dixit has invested in food delivery startup Swiggy, buying shares worth Rs 1.5 crore ahead of its initial public offering (IPO). Dixit, along with Ritesh Malik, founder of Innov8, purchased shares from the secondary market, facilitated by Swiggy’s investment banker Avendus. This investment makes Dixit the second celebrity to invest in Swiggy, after Amitabh Bachchan.
Swiggy, valued at $9-9.3 billion in secondary transactions, is expected to list on the stock exchanges later this year in a $1.4 billion IPO. The company’s revenue grew 36% from Rs 8,265 crore in FY23 to Rs 11,247 crore in FY24, with losses decreasing by 44% from Rs 4,179 crore to Rs 2,350 crore. Dixit’s investment in Swiggy is seen as a strategic move, given the company’s growing presence in the food delivery market.
Swiggy’s IPO is highly anticipated, with many investors looking to diversify their portfolios beyond Zomato, which has seen a 120% increase in its shares year-to-date. The food delivery market in India is a duopoly, with Zomato and Swiggy commanding about 90-95% of the market share. With Dixit’s investment, Swiggy is poised to continue its growth trajectory and expand its services in the quick commerce sector.
