Invesco raises valuation for IPO-bound Swiggy ahead of its public issue

Invesco has increased the valuation of IPO-bound Swiggy for the third straight time from $12.7 billion to $8.5 billion. Since October 2023, the company's valuations have been raised 49 per cent to $12.7 billion, while from January 2022, the increase in valuation is to the tune of 19 per cent as per the research desk. Invesco holds a nearly 2 per cent stake in  the food delivery services firm.

Earlier in March, Baron Capital also decreased the valuation for the company by 42 per cent to $12.1 billion. The company held 7 per cent stake in Swiggy which also has its Quick Commerce business Swiggy Instamart.

Invesco’s Valuation Trend for Swiggy & Zomato in Billion

At the end of               Swiggy            Zomato

January 2024                 $12.7               $14.8

October 2023                  $8.5                $10.9                  

July 2023                          $7.8                 $9.1

January 2023                  $5.5                  $4.9

October 2022                  $8.2                  $6.5  

January 2022                  $10.7                $9.5

Thus, the increase in valuation at the company comes ahead of its IPO as the company plans to launch its Rs 8300 crore public issue this year.

As per Reuters, Swiggy in the nine months of the FY24 posted a revenue of Rs 5476 crores, while loss at the company narrowed to Rs 1600 crore during the period from the earlier Rs 4179 crore in  FY23.

Other new age companies are also seeing an increase in valuation as per the Research desk, including Pine Labs, FirstCry and Ola Electric. All these companies intend to bring their IPO in FY25.