“Swiggy’s Pre-IPO Buzz: Where Celebrities and Investors Collide” . Amitabh Bachchan, Karan Johar , Madhuri Dixit , others invested.
Swiggy founded in 2014 is all set to launch its IPO by the end of this year with a total IPO size of Rs 11,000 Crores. The Securities & Exchange Board of India (SEBI) has granted Swiggy to raise the funds through Offer For Sale (OFS) and Fresh Issue of Rs 6664 and Rs 3740 Crores respectively . Swiggy had a valuation of nearly USD 13 billion in April.
Swiggy‘s rival Zomato raised Rs 9,375.00 crores back in 2021 through a combination of fresh issue of Rs 9,000.00 crores and offer for sale of Rs 375.00 crores.
The Pre- IPO bound Swiggy has already raised a significant portion from some of the famous Bollywood Celebrities and Sports Stars like Madhuri Dixit Nene, Amitabh Bachchan ,filmmaker Karan Johar , ex-actor & now the founder of Disrptve Ventures Ashish Chowdhry and from Sports Stars like Rahul Dravid and Zaheer Khan, tennis player Rohan Bopanna.
Read More: Thinking Hats Entertainment Solutions IPO subscribed 17x today. Check the GMP and other details
Under the confidential filing process, Swiggy will submit two updated draft prospectuses after Sebi’s approval — one addressing the regulator’s feedback and the other for public comments over 21 days. Only then will the final prospectus be filed, and the company can launch roadshows for the IPO, sources said.
Swiggy is backed by Raamdeo Agrawal, the chairman of Motilal Oswal Financial Services, along with Venture Capital firms such as SoftBank Vision Fund, Accel, and Prosus.
Disclaimer:
The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision.