Amid rumours that he has invested in the online food-grocery ordering and delivery company Swiggy, director-producer Karan Johar has officially stated that these reports are unfounded. A statement to this effect was released by his film production and distribution company, Dharma Productions, on behalf of the filmmaker.
“Certain sections of the media are falsely reporting that Mr Karan Johar has invested in Swiggy, the online food delivery service. These reports are untrue. Mr Johar has not invested in Swiggy,” the statement by Dharma Productions’ spokesperson said, News18 reported.
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Recently, news agency PTI had reported, citing sources, that Swiggy had received clearance from the capital markets regulator SEBI for its Initial Public Offering (IPO). Founded in 2014, Swiggy was valued at nearly $13 billion in April. According to Tracxn, a startup data platform, Swiggy generated an annual revenue of $1.09 billion as of March 31, 2023, and employs over 4,700 people. Two months back, The Economic Times had reported that Amitabh Bachchan’s family office had acquired a small stake in Swiggy by purchasing shares from the company’s employees and early investors.
Karan Johar is currently busy promoting his upcoming production venture, director Vasan Bala’s action thriller Jigra, starring Alia Bhatt and Vedang Raina in the lead roles. Till September 2024, as many as four films bankrolled by Karan have been released. While Yodha, Mr & Mrs Mahi and Bad Newz were produced under the banner of Dharma Productions, Ae Watan Mere Watan was distributed under the Dharmatic Entertainment banner. The romantic comedy family drama Rocky Aur Rani Kii Prem Kahaani (2023) was his last directorial endeavour.
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