After Amitabh Bachchan, Madhuri Dixit Picks Up Stake In IPO-Bound Swiggy

Bollywood actor Madhuri Dixit has joined the bandwagon of celebrities who have invested in food-delivery giant Swiggy ahead of its potential IPO.

What Happened: Dixit, along with co-working space start-up Innov8 founder Ritesh Malik, bought shares worth ₹3 crore in the secondary market, Moneycontrol reported. Dixit and Malik put in ₹1.5 crore each to become equal shareholders in Swiggy, it said.

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The Bollywood actor reportedly paid ₹345 for each share of Swiggy. With this, she has become the second Indian celebrity to acquire shares in the IPO-bound firm. In August, actor Amitabh Bachchan was reported to have purchased shares in the company.

On the other hand, smaller companies have also been picking up stakes in the company. On Tuesday, Modern Insulators, which is engaged in the production of porcelain insulators, bought 1.38 lakh shares in Swiggy for ₹360 per share. The total investment comes to around ₹4.99 crore and makes up 0.007% of the company's shareholding. Earlier this month, Hindustan Composites bought 1.5 lakh equity shares of Swiggy.

Swiggy is currently awaiting the green light from the Securities and Exchange Board of India (SEBI) to go ahead with the IPO filing, Bloomberg said earlier this week. The company is reportedly aiming to raise over $1 billion (₹8,389 crore) through its listing.

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