Bollywood superstar Amitabh Bachchan’s family office has bought a stake in Swiggy, a major player in quick commerce. This move comes as Swiggy prepares to launch its IPO. The exact amount of the deal has not been disclosed.

According to a report from Economic Times, Swiggy is an online food delivery company that also handles grocery deliveries through Swiggy Instamart. Recently, there has been growing interest from investors in the quick commerce industry. Other major players in online grocery include Zomato and Zepto. Swiggy and Zomato are direct competitors in the online food delivery market.

Zomato is already listed on the stock exchange, while Swiggy is planning to list its shares through an IPO. Swiggy aims to raise between 8,500 and 10,000 crore rupees through the IPO and has set a valuation goal of 15 billion dollars. According to American investor Baron Capital, Swiggy’s valuation could reach 14.74 billion dollars by June 2024. Swiggy received approval from its shareholders to launch the IPO in April 2024.

Before this, Raamdeo Agrawal from Motilal Oswal Financial Services also bought stakes in Swiggy and Zepto. Swiggy’s stock has been seeing significant movement in the unlisted market, trading around 450 rupees per share, up from 350 rupees.