BENGALURU: India is now a big focus for the Dutch tech investor Prosus, as its CEO Fabricio Bloisi on Monday said that they have many potential IPO candidates in the country and it is our priority.
In a post earnings call, he mentioned the Swiggy IPO and said this is a great result and this is the kind of story we have to replicate.
“We started investing in Swiggy when it was a small company in India. We invested many rounds in Swiggy ...We have many more companies in India that I really believe will have its value highlighted over the next few years...we have many potential IPO candidates in the next 18 months,” he said.
Meesho, Bluestone and PayU India, among others, are likely to go public in 18 months.
Prosus operations delivered topline growth of 26%, with consolidated ecommerce revenue of $3.0 billion. It recently celebrated listing of Swiggy, valued at $11.3 billion and sold $2 billion+ of assets, including a portion of Swiggy stake and its Trip.com position.
“Our buyback has created $36 billion of value since launch, with 10% NAV per share accretion and is the largest globally of any tech company as a portion of market cap,” Prosus said.
It mentioned that Swiggy grew gross order value (GOV) by 24%, while adjusted EBITDA losses reduced to $85 million.
Prosus said that Swiggy posted a 40% growth in its revenue at about Rs 6,300 crore in H1FY25.
In its half-yearly disclosure, Prosus also said it made an investment of $80 million in B2B supply chain financing company Mintifi. It has also invested $100 million in housing finance company Vastu.