Key Points
This is the second time Invesco has cut down its valuation in the food delivery firm..
We reported last month that Invesco had marked down its investment in food delivery firm Swiggy by 23%.ETtech(Illustration:.
US asset manager Invesco, which led the $700 million fundraising round in Swiggy in January 2022, has cut the food delivery firms valuation to $5.5 billion from $8.2 billion in its latest markdown...
According to filings ET had reviewed, Invescos valuation of Swiggys shares as of October 2022 was lower than that in July when they were valued at $6,212 a piece, putting the companys valuation at $8.2 billion..
Swiggys quick commerce unit Instamart is lagging rival Zomatos grocery delivery business Blinkit, according to a report by brokerage firm Jefferies..
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IPO-bound Swiggy's valuation raised to $8.3 billion by US-based Invesco: Report
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Invesco raises valuation of IPO-bound Swiggy for second time to $8.3 billion
04, Jan, 24By the end of this month, Invesco held 28,844 shares in Swiggy, with a total value of $147.6 billion. This equates to a valuation of $8.3 billion for the investment.
Invesco raises Swiggy’s valuation to $8.3 billion amid IPO buzz: Report
05, Jan, 24The valuation boost comes as Swiggy, backed by SoftBank, gears up for its upcoming initial public offering (IPO) later this year.
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04, Jan, 24Previously, Invesco, which owns a 2% stake in Swiggy, valued the food tech major at $7.85 billion.