Celebrity investments of ₹3 crore support Swiggy’s momentum ahead of its $10-13 billion IPO.
Celebrity investments of ₹3 crore support Swiggy’s momentum ahead of its $10-13 billion IPO.
Swiggy
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Expert Analysis
Swiggy Gains ₹3 Crore Celebrity Investment.
Expert Analysis:
Celebrity Investment Details: Madhuri Dixit and Ritesh Malik invested ₹1.5 crore each, totaling ₹3 crore, in Swiggy via a secondary market transaction at ₹345 per share.
IPO Preparation: This investment comes ahead of Swiggy's $1.4 billion (₹11,664 crore) IPO, set for later this year.
Revenue Growth and Loss Reduction: Swiggy's FY24 revenue grew by 36%, from ₹8,265 crore to ₹11,247 crore, while losses fell by 44% due to better expense management.
Valuation and IPO Projections: Swiggy’s valuation in secondary transactions is estimated at $9-9.3 billion, with a projected IPO valuation of $10-13 billion.
