Invesco Boosts Swiggy's Valuation Ahead of IPO

Valuation Surge:

Invesco raises Swiggy's valuation by 19% to $12.7 billion in preparation for its IPO.

Consecutive Increases:

This marks the third consecutive valuation increase by Invesco, showcasing growing confidence in Swiggy's potential.

Previous Valuation Adjustments:

Swiggy's valuation was adjusted downwards after reaching $10-11 billion post-funding round.

Transition to Public Limited Company:

Swiggy transitions to a public limited company, dropping 'Private' from its title to facilitate public fundraising.

Anticipated IPO:

Swiggy aims for a $1 billion IPO later this year, projected to be the largest by an Indian internet company.

Invesco's Stake:

Invesco holds a 2% stake in Swiggy, valuing its shares at $147.6 million, initially investing $190.5 million.

Financial Performance:

Swiggy reports a loss of $207 million in FY24's first nine months, following a net loss of INR 4,179.3 Crore in FY23.

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