03:29 AM EDT, 10/29/2024 (MT Newswires) -- (Updates with BlackRock's ( BLK ) response in the last paragraph.)

BlackRock ( BLK ) and the Canada Pension Plan Investment Board plan to invest in the $1.4 billion initial public offering of Swiggy, the Indian food delivery firm, Reuters reported Sunday, citing sources close to the matter.

Meanwhile, Swiggy lowered its IPO valuation to $11.3 billion, 25% below the previous target of $15 billion, the report said.

BlackRock ( BLK ) declined to comment to MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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