Prosus has announced an impressive $2 billion profit from its investment in Swiggy, India's leading food delivery firm. They have invested a total of $1.3 billion in Swiggy since 2017, for a 31% stake. That holding is now worth $3.4 billion at the IPO valuation. The stock listed today and has already popped 7%. Prosus is retaining a 25% stake in post-listing.
Swiggy's $1.3 billion market debut was heavily oversubscribed, attracting eight of the world's top ten fund managers. This success underscores India's growth potential and Prosus's strategic investments in the region.
Prosus showcased its ability to spot and leverage high-growth opportunities with this win. Continuing to seek out unicorns in India and adhering to this proven strategy could bolster its growth trajectory further.
Well done to Chief Investment Officer, Ervin Tu (pictured here).