Celebrities invested in Swiggy before IPO
Swiggy IPO: Swiggy’s IPO has become a topic of discussion these days. Before the IPO, everyone from Madhuri Dixit to Amitabh Bachchan, Karan Johar and Rahul Dravid had also invested money in it. But now, after these giants, you too can earn money with Swiggy. Yes, online food delivery platform Swiggy has finally filed for an initial public offering (IPO). The company submitted draft documents to market regulator SEBI.
Under this IPO, new shares worth Rs 3,750 crore will be issued and 18.52 million shares will be sold by existing shareholders through offer for sale. This could be the second company listed in the food delivery segment. Previously, the company listed in this segment was Zomato. Swiggy’s rival Zomato is set to go public in 2021.
These investors will reduce their stake in Swiggy IPO
The main investors in Swiggy are Prosus (32%), Softbank (8%), Accel (6%). Other shareholders of the company include Elevation Capital, DST Global, Norwest, Tencent, Qatar Investment Authority, GIC of Singapore, among many others.
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The company may trade with a market capitalization of between $10 and $13 billion.
According to Moneycontrol, the country’s food delivery market is expected to grow to Rs 2 lakh crore by 2030. In recent months, bankers have expressed confidence that Swiggy can list in the market with a market capitalization/valuation of around 10,000 to 13,000 million dollars.
The funds raised from this IPO will primarily be used to expand its rapid trading segment and strengthen its infrastructure.
Madhuri invested millions of millions
Money Control claimed in its report citing sources that Madhuri Dixit did this deal at the rate of Rs 345 per share. Bollywood superstar Madhuri Dixit has struck this deal with Innov8 founder Ritesh Malik from the secondary market. Innov8 is a coworking space company, which was later bought by Oyo. Madhuri Dixit and Ritesh Malik bought shares worth about Rs 3 crore. Both have invested Rs 1.5 crore each.
