- Invesco values Swiggy at $13.3 billion
- Food-delivery giant prepares for IPO
- Valuation boost contrasts with broader startup downgrades
Invesco Ups the Ante
U.S. asset manager Invesco has raised its valuation of Indian food-delivery giant Swiggy to $13.3 billion. This comes ahead of Swiggy’s anticipated IPO, expected in about a month.
Conservative Approach Pays Off
Invesco’s Developing Markets Fund now values its 28,844 Swiggy shares at $237.24 million, up from the $190.47 million purchase price.
The asset manager has taken a cautious approach, previously lowering Swiggy’s valuation to $5.5 billion during the 2023 market dip.
IPO on the Horizon
Swiggy aims to raise up to $1.4 billion in its upcoming IPO, targeting a valuation range of $13 billion to $15 billion. This positive valuation trend contrasts with many other Indian startups facing downgrades from investors.
