Swiggy Gets Another Valuation Hike To Over $12 Billion From Invesco
Invesco's previous fair value of Swiggy stood at around $8.3 billion at the end of January this year.
Invesco Inc. has raised the valuation of its investment in food delivery giant Swiggy, for at least the third time, as the decacorn preps for an imminent initial public offering. The US investor has pegged the Bengaluru-based company's fair value at around $12.7 billion as of the end of March 2024, according to a Securities and Exchange Commission filing by one of Invesco's investment funds.
Invesco's previous fair value of Swiggy stood at around $8.3 billion at the end of January this year. With this, Swiggy has surpassed its valuation of $10.7 billion, the level at which Invesco had led a $700 million round in the company in January 2022.
For comparison, listed rival Zomato Ltd. was trading at a market capitalisation of Rs 1.70 lakh crore, or about $20.4 billion, as of 2:35 p.m. on Tuesday.
