Amitabh Bachchan invests in Indian Food Delivery Start-up

Amitabh Bachchan's family office has reportedly acquired a small but significant stake in Swiggy, one of India's leading quick-commerce platforms, according to a report by Economic Times.

While the financial specifics of the transaction have not been disclosed, it is noted that the stake was acquired through secondary share purchases from Swiggy's employees and early investors. 

This move aligns with the growing interest in the quick-commerce industry, driven by the increasing demand for faster delivery services.

The news also comes in the context of Swiggy's preparations for an initial public offering (IPO), which aims for a valuation of approximately $15 billion. The company is reportedly planning to raise between $1 to $1.2 billion through this IPO.

Additionally, Raamdeo Agrawal, Chairman of Motilal Oswal Financial Services, has also invested in Swiggy, as well as in Zepto, another quick-commerce firm. Agrawal's investment in Swiggy is believed to have occurred through a secondary share sale, which was valued at around $10-11 billion.

Swiggy's strategic positioning in both the food delivery and quick commerce sectors has put it in direct competition with rivals like Zomato. The company's foray into delivering groceries and other products within 10 minutes has further intensified this competition, making the upcoming IPO a significant event in the Indian market.