US-based Baron Capital increases Swiggy's valuation to $15.1bn ahead of its $1.25bn IPO.

US-based asset manager Baron Capital has marked up the valuation of food delivery platform Swiggy to $15.1 billion, a 25% increase from the previous valuation. The latest valuation as of March 31 comes as Swiggy prepares for its initial public offering (IPO). The company has obtained shareholders' approval to launch its $1.25 billion IPO, aiming to raise up to $3.75 billion through a fresh issue and around $6.66 billion as an offer-for-sale component.