Invesco raises Swiggy valuation to USD 8.3 billion

BENGALURU: Asset management company Invesco has marked up Swiggy’s valuation to USD 8.3 billion. This is the second time Swiggy’s valuation has been raised in recent times.

As per regulatory filings, the value of Invesco’s 28,844 shares in Swiggy was worth USD 147.63 million. As per Tracxn’s report, Invesco holds a 2 per cent stake in Swiggy. The increase in valuation comes at a time when Swiggy is planning for an initial public offering.

A few months ago, Baron Capital slashed the food delivery firm’s valuation by 34 per cent to USD 7.3 billion, and in October, Invesco marked up the valuation of Swiggy from USD 5.5 billion to USD 7.85 billion In 2022, Swiggy raised USD 700 million in funding led by Invesco, and it turned a decacorn as valuation crossed over USD 10.7 billion. Swiggy turned profitable as of March 2023.