The much-anticipated Swiggy IPO has created significant buzz, not just among regular investors but also among high-profile celebrities from sports, entertainment, and business. According to a recent report, several top celebrities have invested in the food delivery giant ahead of its IPO, further highlighting the growing allure of Swiggy as a key player in India’s food tech industry.
Celebrity Investors in Swiggy IPO
Several well-known figures have shown their belief in Swiggy by acquiring shares in the company. Some of the notable names include:
- Rahul Dravid: Cricketer and former captain of the Indian cricket team.
- Zaheer Khan: Former Indian cricketer.
- Rohan Bopanna: Professional tennis player.
- Karan Johar: Bollywood filmmaker and producer.
- Amitabh Bachchan: Bollywood legend and iconic actor.
- Madhuri Dixit Nene: Popular Bollywood actress.
These celebrity investments underscore the strong confidence that high-net-worth individuals have in Swiggy’s future. Additionally, entrepreneur-investor Ashish Chowdhry and Innov8 founder Ritesh Malik have also been revealed as pre-IPO investors in Swiggy.
Swiggy IPO Details
Swiggy recently filed its updated Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 26, 2024. The IPO will consist of:
- A fresh issue of shares worth ₹3,750 crore.
- An Offer-for-Sale (OFS) component of 18.53 crore equity shares.
With a target valuation of $15 billion, Swiggy aims to further expand its services, particularly in the rapidly growing food and grocery delivery sectors. The IPO is expected to create a massive splash in the Indian stock market, attracting institutional and retail investors alike.
Celebrity Impact on IPOs
Celebrities investing in IPOs often generate buzz and elevate the perceived value of a company. Their involvement tends to draw the attention of retail investors, creating a sense of excitement and FOMO (Fear of Missing Out).
However, it’s essential for investors to understand that celebrity endorsements do not guarantee the long-term success of a company.
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Swiggy’s Growth and Market Potential
Swiggy has been at the forefront of India’s booming food delivery market, commanding a significant share alongside rival Zomato. With a presence in over 500 cities, Swiggy has not only expanded its food delivery services but also ventured into grocery delivery through Swiggy Instamart.
Swiggy’s IPO comes at a time when India’s food delivery market is projected to grow to ₹2 lakh crore by 2030, making it a lucrative opportunity for investors.
Swiggy vs. Zomato: The Rivalry
Swiggy’s IPO follows the successful public debut of its competitor Zomato in 2021, which was listed at a 52% premium and has delivered multibagger returns. With both companies commanding over 90% of the food delivery market, investors are keenly watching how Swiggy’s IPO will perform compared to Zomato.
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Disclaimer
The information provided in this article is for informational purposes only and should not be considered as financial advice. Investors should conduct their own research or consult with a professional advisor before making any investment decisions.