Asset management company Invesco has increased Swiggy’s valuation by 19% to $12.7 billion before its initial public offering (IPO), according to SEC filings. This marks the third valuation hike by Invesco within a year. Swiggy’s revenue grew by 44.9% in 2022-23, reaching Rs 8,264.6 crore, but it also incurred significant losses. Swiggy plans to file for a $1 billion IPO soon after converting to a public limited company. Major investors in Swiggy include Prosus, Tencent, Invesco, and Baron Group, while its competitor Zomato has a market cap of approximately $2 billion.
Invesco Raises Swiggy’s Valuation to $12.7 Billion Ahead of IPO
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