Naspers and Prosus-backed Swiggy has today listed on the National and Bombay Stock Exchanges of India (NSE and BSE), valuing the company at US$11.3 billion. Naspers and Prosus sold shares worth more than US$500 million as part of the IPO, and have been a cornerstone investor in Swiggy since 2017. Following the IPO, Naspers and Prosus holds a c25%1 stake and maintains its two seats on the Board.
Shares in Swiggy this morning opened strongly at almost an 8% premium over the issue price of ₹390
Fabricio Bloisi, CEO of Naspers and Prosus, said: “Everyone at Prosus extends huge congratulations to the Swiggy team on today’s IPO. We have supported the management team since our first investment in 2017 and have seen the company flourish in the post-pandemic era. It has diversified into new areas, expanded into new cities, and built an iconic consumer brand – placing Swiggy on a strong trajectory as a public company. Our investment in Swiggy highlights our commitment to building transformational companies and delivering returns for our shareholders by actively managing our portfolio.
“India remains a key growth market for Prosus given the country’s impressive digital transformation in the consumer and enterprise sectors. We are excited about the region and see huge opportunity for value creation including a strong IPO pipeline within our current portfolio.”
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