Hindustan Composite is a leading auto ancillary company which strategically invested in the IPO-bound online food delivery giant Swiggy. The strategic partnership has come when Bollywood superstar Amitabh Bachchan’s family office also picked up a minority stake in the Bengaluru-based company. As part of the deal valued at Rs 5.17 crore, Hindustan Composite has entered the growing food delivery market.
While on one hand, Swiggy gears up for a major public listing, it is making major strides in the industry. Recently, the company announced its fifth ESOP liquidity programme worth $65 million, which gave a further boost to employee morale and key talent towards the company. In addition, the food delivery leading company Swiggy has strengthened its leadership team with some new key executives onboard, signaling growth and innovation for it.
But despite stiff competition from rivals like Zomato, Swiggy’s revenues have, however, been growing steadily, albeit while continuing to operate in losses. For now, the investors continue to watch its performance and valuation closely as it builds up to the IPO.
Hindustan Composite Invests in IPO-Bound Swiggy
