Billionaire investor Raamdeo Agrawal of Motilal Oswal Financial Services has acquired stakes in quick-commerce companies Swiggy and Zepto, both of which are preparing for their initial public offerings (IPOs), according to media reports. Agrawal's investment comes at a time when quick commerce is seeing a surge in fundraising activity.
The media report also noted that the family office of Bollywood actor Amitabh Bachchan has acquired a small stake in Swiggy by purchasing shares from employees and early investors. Although the exact amounts invested by Agrawal and Bachchan's family office are undisclosed, Swiggy's valuation is estimated to be between USD 10 billion and USD 11 billion.
Agrawal's investment in Zepto reportedly occurred during its USD 665 million funding round, as the company continues to compete with Zomato's Blinkit and Swiggy's Instamart in the quick-commerce space. The amounts involved in these deals are said to be substantial for individual investors, though specific figures have not yet been revealed.
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