Reportedly madhuri dixit and Ritesh Mailk, founder of Innov8, a co-working space player, have invested Rs 3 crore in swiggy through the secondary market. Actress madhuri dixit has made a major investment in food delivery giant swiggy ahead of its upcoming initial public offering (IPO). madhuri and Ritesh Mailk, founder of Innov8, a co-working space player, have invested a total of Rs 3 crore in swiggy by pooling Rs 1.5 crore each.
Perhaps the duo had reportedly picked up the shares for Rs 345 each. The transaction was facilitated by Avendus, the investment banker for Swiggy. Speaking to the news outlet, Madhuri’s husband, Dr Shriram Nene declined to confirm the investment but added, “The startup ecosystem in india is certainly one of the most interesting in the world due to the unique and diverse nature of India’s consumers and markets.”
Furthermore the latest investment makes madhuri dixit the second celebrity investor in swiggy with amitabh bachchan, who picked up a stake in the company in august this year. Currently swiggy is reportedly preparing for a massive IPO to raise $1.4 billion (approximately Rs 11,664 crore) in funds. The company was previously expected to raise Rs 3,750 crore (around $450 million) through a fresh issue. However, the fresh issue size has now reportedly been updated to Rs 5,000 crore (about $600 million), an increase of Rs 1,250 crore or $150 million, as the company readies a cash chest in a highly competitive market. In all, swiggy will raise around $1.4 billion, up from $1.25 billion expected previously, through the IPO.
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