Swiggy's highly anticipated IPO is creating an enormous buzz in the investment community, with expectations that its final size could rise to Rs 11,664 crore (approximately $1.4 billion) depending on decisions made at the company’s extraordinary general meeting (EGM) scheduled for October 3. The initial target was set at Rs 10,000 crore, but with the potential increase of Rs 1,250 crore, interest in this offering is soaring to unprecedented heights, captivating not only investors but also the general public.
The appeal of Swiggy's IPO extends well beyond ordinary retail investors; numerous celebrities from various fields are keen to get involved, significantly raising the profile of this upcoming market debut. High-profile figures from the Bollywood film industry, cricketing legends, and even renowned tennis players are reportedly investing in Swiggy's pre-IPO shares, further amplifying the excitement surrounding this financial milestone. Among the notable investors are cricket icons such as Rahul Dravid, Zaheer Khan, and tennis star Rohan Bopanna, alongside Bollywood actor and entrepreneur Ashish Chowdhry. Chowdhry expressed his enthusiasm for Swiggy’s transformative impact on the food delivery landscape, stating, "Swiggy has significantly transformed the food delivery landscape in India, and participating in their evolution promises to be highly lucrative."
As Swiggy continues to solidify its reputation as a household name in the food delivery industry, its success has garnered the attention of many celebrities, not just as loyal customers but also as astute investors. Earlier investments from well-known personalities such as Amitabh Bachchan, Madhuri Dixit Nene, and entrepreneur Ritesh Malik in the secondary market signal a growing trend where public figures are actively backing successful tech startups. This interest reflects a broader shift among high-net-worth individuals, who are increasingly looking to diversify their portfolios by investing in high-growth potential companies in the rapidly expanding food tech sector.
Swiggy's pre-IPO shares have been in high demand in the unlisted market, with approximately 200,000 shares already acquired by these high-profile investors. The company’s successful diversification into quick commerce and hyperlocal logistics has further enhanced its appeal, allowing it to capture a broader market segment and cater to the evolving needs of consumers. Zaheer Khan emphasized the importance of supporting innovative companies with robust business models that positively impact society, remarking, "This investment isn’t just about high growth potential, but also about backing a brand that’s shaping the future of urban living and consumer convenience in one of the world’s fastest-growing markets."
The excitement surrounding Swiggy’s IPO is partly fueled by the successful market debut of other tech-driven companies, notably Zomato, which experienced its shares surge upon listing in 2021. Many industry watchers speculate that Swiggy’s IPO could replicate this success, making it an attractive opportunity for both retail and institutional investors alike. The growing optimism about Swiggy's future has created an atmosphere of anticipation and eagerness as investors prepare to make their moves.
Celebrities are particularly drawn to pre-IPO investments due to the potential for substantial returns. By investing before the public offering, these individuals can acquire shares at a lower price, anticipating a significant increase in value once the company officially lists on the stock market. Swiggy’s impressive journey to becoming a dominant player in the food delivery sector exemplifies its capability for sustained innovation, enabling it to stay competitive against rivals like Zomato and Zepto. Over the years, Swiggy has expanded its service offerings beyond food delivery, launching initiatives like Swiggy Instamart for quick grocery delivery and various other verticals, demonstrating a commitment to evolving in a dynamic and competitive marketplace.
In addition to celebrity and venture capital investments from prominent firms like SoftBank Vision Fund, Accel, and Prosus, Swiggy has also generated interest from a diverse group of investors in the secondary market. Notable figures such as Motilal Oswal Financial Services chairman Raamdeo Agrawal and Hindustan Composites, an automobile materials manufacturer, have also made their mark in Swiggy's funding rounds, showcasing a diverse spectrum of confidence in the company’s future prospects and potential for growth.
As Swiggy prepares for its IPO, it aims to raise Rs 10,000 crore, which includes a fresh issue of Rs 3,750 crore and an offer for sale worth Rs 6,664 crore. The finalization of these amounts, particularly the potential increase of Rs 1,250 crore, will hinge on the outcomes of the upcoming EGM. This meeting holds significant importance as it could reshape the trajectory of the IPO and solidify Swiggy’s position in the market.Â
The anticipation surrounding this IPO not only highlights Swiggy's stature in the food delivery industry but also illustrates the growing trend of celebrity investments in innovative technology firms. As public figures increasingly engage with and support emerging business ventures, it reflects a shift in the landscape of investment where celebrity influence intertwines with the world of finance. This intersection of entertainment, sports, and entrepreneurship showcases how high-profile endorsements can bolster the credibility and allure of promising companies, ultimately shaping the future of various sectors in the economy. With Swiggy leading the charge in food tech innovation, the outcome of its IPO will likely serve as a benchmark for future tech-driven ventures, setting the stage for an exciting chapter in the investment narrative of India.
