Amitabh Bachchan's family office invests in Swiggy ahead of IPO for quick commerce expansion.

Amitabh Bachchan's family office has invested in Swiggy, a prominent food delivery service in India, through the purchase of shares from the company's employees and early investors. The investment comes ahead of Swiggy's Initial Public Offering (IPO) targeting a valuation of around $15 billion to raise $1-1.2 billion. Swiggy aims to use the IPO proceeds to expand its quick commerce Instamart business and open more warehouses to better compete with Zomato. The strategic investment is expected to boost competition in the quick commerce space, where Swiggy will compete directly with Zomato and Zepto.

August 27, 2024
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