New-age companies, especially those in quick commerce, are emerging as favored choices among affluent investors in the public markets. The family office of Bollywood icon Amitabh Bachchan has acquired a small stake in Swiggy by buying shares from the employees and early investors of the firm, two sources close to the development said, according to Economic Times.
Besides him, Raamdeo Agrawal, chairman of Motilal Oswal Financial Services, too invested in Swiggy in a funding round that coincided with the peak of quick commerce venture fundraising.
Though the exact investment amounts are not disclosed, these are sizeable cheques for individual investors.
These secondary share transactions are believed to have occurred at a company valuation of around $10-11 billion, people in the know said. Agrawal’s investment in Swiggy that owns Instamart quick-commerce platform and Zepto underlines rapid growth of quick commerce and the future market promise that investors see in the segment.
