{"id":22012,"date":"2024-04-09T08:27:47","date_gmt":"2024-04-09T08:27:47","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/09\/invesco-marks-swiggy-valuation-at-12-7-billion-up-18-from-last-fundraise\/"},"modified":"2024-04-09T08:27:47","modified_gmt":"2024-04-09T08:27:47","slug":"invesco-marks-swiggy-valuation-at-12-7-billion-up-18-from-last-fundraise","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/04\/09\/invesco-marks-swiggy-valuation-at-12-7-billion-up-18-from-last-fundraise\/","title":{"rendered":"Invesco marks Swiggy valuation at $12.7 billion, up 18% from last fundraise"},"content":{"rendered":"
\"Invesco<\/div>


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A fund managed by US-based investor Invesco has marked up the valuation of food and grocery delivery company Swiggy<\/a> to $12.7 billion, up 18% from the valuation at which the Bengaluru-based firm last raised money in 2022, filings made with the US Securities and Exchange Commission<\/a> showed.<\/p>\n

Invesco had led the $700 million round in January 2022 <\/a>that valued Swiggy at $10.7 billion. The mark up in Swiggy’s valuation by its investors comes at a time when several other Indian internet companies, including Ola Cabs, <\/a>Byju’s and Meesho have seen the fair values of their stakes being marked down by investors such as Vanguard<\/a>, BlackRock and Fidelity.<\/p>\n

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Last month, ET had reported that Baron Capital had also marked up the company’s valuation to $12.1 billion.<\/a> The latest valuation ascribed to Swiggy\u2014which is soon expected to file draft papers for its $1 billion initial public offering (IPO)\u2014by Invesco is as of January 31 this year. This was the fourth consecutive valuation markup by Invesco for Swiggy.<\/p>\n

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ETtech<\/span><\/figure>\n<\/div>\n

Crossover funds, which invest both in publicly traded and privately held companies, periodically review the valuation of their portfolio companies. The fair value is ascertained on the basis of a number of factors, including the stock market performance of comparable peers.<\/p>\n

Swiggy did not comment on the development.<\/p>\n

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Discover the stories of your interest<\/h3>\n<\/div>\n
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Between October 31 and January 31, the share price of Swiggy\u2019s key rival, Gurugram-based Zomato<\/a> that competes with it in the food delivery, quick commerce and dining out space, increased 33%.<\/p>\n

Currently, Zomato\u2019s stock is trading at an all-time<\/a> high nearing the Rs 200-mark and its market capitalisation has exceeded $20 billion.<\/p>\n

According to stock market analysts, the surge in Zomato\u2019s market capitalisation has been on the back of growth in its quick commerce business Blinkit, which rivals Swiggy\u2019s Instamart, in addition to Nexus Venture Partners-backed Zepto<\/a> and Tata Digital-owned BigBasket.

Company’s performance<\/strong>
Swiggy’s operating revenue for the fiscal year ended March 2023 surged 45%<\/a> year-on-year to Rs 8,265 crore. However, its net loss widened by 15% to Rs 4,179 crore during the same period.<\/p>\n

As per a January note by Bernstein, Zomato held a 54% market share in gross merchandise value (GMV) terms in the food-delivery segment, while Swiggy had 46%.<\/p>\n

According to Reuters, which cited an internal company document, Swiggy recorded a loss of around Rs 1,730 crore for nine months ending December 2023<\/a>. During this period, the company recorded revenues of around Rs 8,490 crore.<\/p>\n

In the same period, Zomato reported consolidated operating revenue of Rs 8,552 crore.<\/p>\n

ET reported on April 8 that ahead of its IPO, Swiggy has converted itself to a public limited company. <\/a>On February 27, Swiggy changed its registered name from Bundl Technologies Pvt Ltd to Swiggy Pvt Ltd to \u201chelp establish greater proximity and identification of the company\u2019s corporate name with the company\u2019s core brand, \u2018Swiggy\u2019\u201d.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A fund managed by US-based investor Invesco has marked up the valuation of food and grocery delivery company Swiggy to $12.7 billion, up 18% from the valuation at which the Bengaluru-based firm last raised money in 2022, filings made with the US Securities and Exchange Commission showed. Invesco had led the $700 million round in […]<\/p>\n","protected":false},"author":2,"featured_media":22013,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-42031747\/et-logo.jpg","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[1289,21362,27516,24965,8426,14690,27513,27515,3585,27514,14688,4206],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/22012"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=22012"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/22012\/revisions"}],"predecessor-version":[{"id":22014,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/22012\/revisions\/22014"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/22013"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=22012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=22012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=22012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}