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.

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

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.

A food delivery company is about to test the appetite of India's roaring stock market. SoftBank Group and Prosus-backed startup Swiggy may target a valuation of up to $15 billion in its Mumbai initial public offering,

India’s red-hot market for initial public offerings is set to face is biggest supply of mega share sales after the market regulator approved proposals from Hyundai Motor India Pvt., Swiggy Ltd. and Vishal Mega Mart Pvt.

Swiggy , Hyundai Motor India, Acme Solar Holdings, Vishal Mega Mart, and Mamata Machinery have received approval from the Securities and Exchange Board of India ( SEBI ) to proceed with their initial public offerings (IPOs).