look news india
Popular actress Madhuri Dixit has invested in food and grocery delivery platform Swiggy. According to media reports, Madhuri Dixit has bought shares in the company. Swiggy may be listed in the stock market this year.
Investment of 3 crores
Madhuri Dixit has bought shares of this company in the secondary market. Along with Madhuri Dixit, Ritesh Malik has also invested in Swiggy. Ritesh Malik is the founder of Innov8. According to the report, Madhuri Dixit and Ritesh Malik have bought shares worth Rs 3 crore. Let us tell you that the secondary market is where the existing shareholders of the company sell shares without the interference of the company.
Looking for investment opportunities in unlisted companies
Secondary transactions happen when an existing investor in a company wants to sell his shares. The company has no role in this deal. Shriram Nene said that the startup system in America is ahead. In India it is just the beginning. Madhuri Dixit and I are together looking for opportunities in companies that are not yet listed. Most of the investments are only financial. In some places we are also strategically involved in the company. But at the moment we do not want to name any company. Swiggy has also not given much information on this matter at the moment.
IPO may come later this year
According to the report, Madhuri Dixit has made this investment at the rate of Rs 345 per share. But no official statement has been issued by Swiggy on this entire matter. Swiggy's IPO may come by the end of this year. The IPO size of the Bengaluru-based company could be Rs 11,664 crore.
How is the financial position of the company?
Swiggy's revenue in FY 2024 was Rs 11,247 crore. Which is 36 percent more than FY 2023. A year ago in the same financial year, the company's revenue was Rs 8265 crore. The good thing for the company is that their loss has reduced by 44 percent to Rs 2350 crore. Let us tell you that Swiggy's rival company Zomato had a revenue of Rs 12,114 crore during FY 2024. While the company's profit during this period was Rs 351 crore. This year, Zomato's share price has seen a rise of 120 percent. The company was listed in 2021.