Invesco has marked up the valuation of food delivery startup Swiggy by 9%, while MobiKwik is set to raise $105.7 million via a through an IPO.
Invesco marks up Swiggy’s valuation to $8.3b
US-based Invesco has marked up the valuation of food delivery startup Swiggy by 9% to $8.3 billion. The asset management company, which has a 2% stake in Swiggy, had marked up its valuation to $7.85 billion in Oct from $5.5 billion previously.
In April 2023, Invesco cut Swiggy’s valuation to $8 billion from $10.7 billion, followed by another mark-down to $5.5 billion.
Another US-based investor, Baron Capital, which had cut the valuation of its holding in Swiggy by 10% at the end of the March quarter in 2023, marked up its valuation by 34% to $8.5 billion in August.
MobiKwik looks to raise $106m through IPO
Digital payments solutions provider MobiKwik is set to raise Rs 880 crore ($105.7 million) through a fresh issue of shares in a public offering, Entrackr reported on Thursday.
This is the second attempt by MobiKwik to go for an IPO. It filed a draft red herring prospectus (DRHP) in July 2021 but later abandoned public listing citing weak market conditions.
The firm will file another DRHP with the Securities Exchange Board of India (SEBI) and RoC in the coming weeks.
The company is looking to raise nearly half of what it aimed at from the previous attempt to go public. MobiKwik planned to mop up Rs 1,900 crore in the public listing which consisted of a Rs 1,400-crore fresh issue and a Rs 500-crore offer of sale, the report said.