Baron marks up Swiggy valuation to over $15 billion

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MUMBAI: In a boost for

IPO-bound Swiggy

, its

US-based investor

Baron Capital has marked up the company’s valuation yet again. Filings made with the US Securities and Exchange Commission showed that Swiggy has been valued at $15.1 billion as of March 31 by the investor. This is about 25% higher than the $12.1 billion valuation which the firm had ascribed to Swiggy as of Dec 31, 2023.
Baron Capital had participated in the Bengaluru-based food delivery company’s last large funding round, where it had garnered $700 million from investors led by Invesco at a valuation of $10.7 billion in Jan 2022. Swiggy did not comment on the development. The company has filed for draft IPO papers with market regulator Sebi through the confidential filing route.