Actress Madhuri Dixit reportedly bought shares in food and grocery delivery platform Swiggy before its listing.
Dixit and Innov8 founder Ritesh Malik bought the shares from the secondary market, Moneycontrol reported, citing people familiar with the matter.
Innov8 is a shared workspace platform currently owned by Oyo Hotels.
Dixit and Malik both purchased ₹3 crore from the secondary market, which is the minimum investment size. They have invested ₹1.5 crore to become an equal shareholder in Swiggy.
The report also said that Swiggy’s investment banker Avendus facilitated the secondary transaction. Dixit has paid ₹$345 per Swiggy share.
Mint The report could not be independently verified. Swiggy has not yet commented on the matter.
When existing investors sell their shares of a company to new investors without the company’s involvement, it is called a secondary transaction.
according to Bloomberg According to reports, people familiar with the matter revealed that Bengaluru-based Swiggy plans to publicly apply for an initial public offering (IPO) this week.
Swiggy to raise $1 billion through IPO
Swiggy is looking to raise $1 billion through its IPO and is awaiting approval from the Securities and Exchange Board of India. The report also said that further details such as the size and timing of the proposed listing are still under consideration.
In FY24, Swiggy’s losses fell by 43% to ₹2,350 crore, thanks to rapid growth of its food delivery and quick commerce arm Instamart.
Operating income increased by 36% to ₹11,247 crore. Swiggy reported a gross order value (GOV) of ₹The company had revenue of 35,000 crore ($3.5 billion), driven by 14.3 million monthly transacting users across all its verticals, including food delivery, restaurants and express commerce, Mint reported on September 4.
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