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  3. Swiggy's valuation raised to $13.3 billion ahead of mega IPO

Swiggy's valuation raised to $13.3 billion ahead of mega IPO

2 Oct 2024

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Key Takeaways

Swiggy's valuation increase to $13.3 billion reflects strong investor confidence, alongside improved revenue despite rising losses ahead of its IPO.

Swiggy's valuation increase to $13.3 billion reflects strong investor confidence, alongside improved revenue despite rising losses ahead of its IPO.

Swiggy

Swiggy

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Expert Analysis

Swiggy's Valuation Hits $13.3 Billion Ahead of IPO.

Expert Analysis:

  • Valuation Increase: Swiggy's valuation has increased to $13.3 billion by Invesco (US-based asset management firm) ahead of its initial public offering (IPO).

  • Valuation Adjustments: Swiggy's valuation marks the fourth upward adjustment by Invesco in the past year, with Baron Capital valuing it even higher at $14.74 billion as of June 2024.

  • IPO Fundraising Plans: The company plans to raise Rs 3,750 crore through a fresh issue of shares and an offer for sale of up to 18.52 crore shares, totaling around Rs 10,414 crore (or $1.25 billion).

  • Potential IPO Size Increase: Plans to increase the IPO size by Rs 1,250 crore ($150 million) will bring the total to Rs 11,664 crore (or $1.4 billion) if approved at the extraordinary general meeting (EGM) on October 3.

Publisher:msn.com