09 April 2024 – US-based fund manager Invesco raises Swiggy’s fair value by 19% to $12.7 Bn in anticipation of its upcoming IPO.
Valuation Journey and Investor Impact:
Invesco’s successive markups reflect investor confidence and anticipation of Swiggy’s potential in the market, following a significant funding round in 2022.
Swiggy’s transformation to ‘Swiggy Limited signals its readiness to raise public funds, aligning with IPO preparations and strategic growth plans. Swiggy’s proposed IPO with a potential $1 Bn issue size marks a significant milestone in India’s internet company IPO landscape, attracting investor interest.
Despite valuation surges, Swiggy faces financial challenges, reporting substantial losses in FY23 and FY24, highlighting market competitiveness and operational dynamics.
Conclusion:
Swiggy’s valuation surge and IPO preparations reflect market optimism and investor appetite for innovative technology-driven ventures, while financial challenges underscore the competitive and evolving nature of the food delivery industry.
