Invesco has raised the value of its stake in Swiggy, ascribing an implied valuation of about $13.3 billion to the Indian food delivery startup.

Swiggy has seen its valuation increase to $13.3 billion by Invesco, a US-based asset management firm, ahead of its initial public offering (IPO). This marks the fourth time in the past year that Invesco has adjusted Swiggy's valuation upward.

Invesco has raised the valuation of Swiggy to $13.3 Bn, a jump of 25% from the last fair value recorded by the investor.

BENGALURU: US asset manager Invesco has raised food delivery and quick commerce platform Swiggy's valuation to about $13.3 billion. In its disclosure with the U

This comes days after Swiggy filed an updated red herring prospectus for its upcoming public issue of Rs 10,000 crore. The food delivery company is looking to raise Rs 3,750 crore in fresh capital and OFS of up to 185.

The US-based investor had paid about $190.5 million for the stake when it invested in a $700 million funding round in Swiggy in January 2022, valuing the company at $10.7 billion.