Indian startup valuations rebound on path to profit, better macros

After a string of valuation markdowns among Indian startups earlier this year, US-based investor Fidelity, last month, became the first foreign investor to mark up the valuation of a startup.

The firm increased the face value of its investment in e-commerce firm Meesho in its books by 14.3 per cent to $43.24 million as of July, bringing the company's valuation to around $5.04 billion.

A few days before that, US-headquartered asset management firm Baron Capital marked up the value of its stake in food delivery platform Swiggy by 33.9 per cent from 31 March to $8.54 billion. It had also