New Delhi: The family office 0f Bollywood star Amitabh Bachchan has picked up a stake in food delivery aggregator Swiggy which is eyeing a market listing soon. Swiggy also operates Instamart, a quick commerce platform which rivals Zomato-owned Blinkit and Tata BigBasket’s BBInstant offering.
Bachchan’s family office reportedly picked up the stake from shares sold by company employees as well as early investors. Swiggy declined to comment on the development while the actor could not be reached for comment at the time of writing, the ET reported.
Swiggy has received its shareholders’ nod for a Rs 10,414 crore IPO comprising freshly issued shares and an offer for sale by promoters and key investors. Other recent investors in Swiggy include Raamdeo Agrawal of Motilal Oswal Financial Services. This is his second quick commerce purchase after picking up a stake in Swiggy InstaMart rival Zepto, the ET reported, citing people familiar with the matter.
Secondary share sale valuation
The secondary share sales in which Bachchan and Agrawal may have pruchased their stake in Swiggy are likely to have been valued at $10-11 billion, the ET reported, citing people familiar with the matter.
Quick commerce offerings in India
Walmart-owned Flipkart has rolled out Minutes in Bengaluru with eyes in New Delhi and Mumbai. US-based e-commerce giant Amazon is also eyeing an entry in the quick commerce space by Q1CY2025, the ET reported, citing people familiar with the matter. Amazon was reportedly also keen on buying a stake in Swiggy. To be sure, the company currently operates, Fresh a grocery offering with a 2-hour delivery time.
Zomato’s Blinkit has ramped up its offerings and is expected to drive the food delivery aggregator’s earnings. Emkay Global has raised its FY25/FY26 estimate earnings per share by 41-25 per cent for Zomato by factoring in Blnkit’s higher growth margins, the ET reported.
Zepto became one of the quickest grocery delivery platforms to achieve unicorn status and is nearing a $300-350 million fundraise at a $5 billion valuation. BigBasket, a Tata Digital company, will refocus its entire capacity towards quick commerce with pans to only offer 10-30 minute delivery, the ET reported, citing BigBasket founders Hari Menon and Vipul Parekh.
Actor Amitabh Bachchan’s family office and Motilal Oswal FInancial Services’ Raamdeo Agrawal have reportedly picked up minority stakes in food delivery and quick commerce platform operator Swiggy. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
