Rahul Dravid, Karan Johar and other celebrities who invested in Swiggy stocks ahead of IPO

Sports and entertainment celebrities and corporates are reportedly showing keen interest in unlisted food delivery company Swiggy ahead of its much-anticipated initial public offering (IPO). According to a report in Economic timesquoting sorcs, Swiggy’s shares were actively traded in the private market before the IPO and nearly 2 lakh shares have already been purchased by prominent people.
These prominent individuals reportedly bought around 200,000 pre-IPO Swiggy shares in recent deals. These high-profile investors include cricketers Rahul Dravid and Zaheer Khan, tennis star Rohan Bopanna, filmmaker Karan Johar and actor-entrepreneur Ashish Chowdhry.
Swiggy has previously secured investments from other Bollywood stars and entrepreneurs including Madhuri Dixit Nene, Amitabh Bachchan and Ritesh Malik.
“I am delighted to support a company that is not only making a significant impact in the market but is also contributing to the growth of the Indian technology ecosystem,” said Zaheer Khan.

What attracts celebrities to tech startups

Celebrity buy-in into Swiggy stock ahead of its IPO reflects a broader trend among high-net-worth individuals looking to diversify their portfolios with fast-growing tech startups. Experts believe that celebrities are drawn to pre-IPO investing because of the potential for significant gains once the company goes public. Zomato’s successful IPO in 2021 showed the potential for significant gains for early investors.
Swiggy’s planned IPO follows a series of successful capital raising rounds that saw it secure investments from global venture capital firms such as SoftBank Vision FundAccel and Prosus. The company also raised capital through secondary market transactions, attracting a diverse group of investors, including Motilal Oswal Financial Services Chairman Raamdeo Agrawal and automotive materials maker Hindustan Composites.