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Prosus Remains Bullish on Indian Market, Expects More IPOs from Portfolio Startups

Strategic Insights

— 1 min read

Despite its high-profile failure with Byjus, Dutch technology investor Prosus remains optimistic about the Indian market and expects its portfolio startups to follow in the footsteps of Swiggy, which announced its intent to go public. In a letter to shareholders, Fabricio Bloisi, CEO at Prosus and Naspers, stated that the company will continue to invest in India and expects more IPOs from its portfolio startups in the coming 12-18 months. Prosus has investments in a clutch of Indian startups, including Meesho, Urban Company, and PharmEasy, and is majority-owned by South Africa's Naspers.

Key Takeaways:

  • Prosus, despite its failed bet on Byjus, remains bullish on the Indian market and will continue to invest in the country.
  • The company expects more of its portfolio startups, including Meesho, Urban Company, and PharmEasy, to go public in the next 12-18 months.
  • Swiggy, which has filed for a Rs 10,000 crore IPO, is likely to hit the market next month and is the biggest startup IPO since Paytms Rs 18,300 crore public issue.
  • Prosus has investments in several Indian startups, including Meesho, Urban Company, and PharmEasy, and is majority-owned by South Africa's Naspers.
  • The company has written off its investment in Byjus due to inadequate information on the company's financial health, liabilities, and future outlook.
  • Prosus is worth $100 billion today and has improved its e-commerce adjusted EBIT by more than $400 million in FY24.

Statistics:

  • Prosus has written off its investment in Byjus.
  • Swiggy has filed for a Rs 10,000 crore IPO and plans to raise up to Rs 11,700 crore.
  • Prosus is worth $100 billion today.
  • The company has improved its e-commerce adjusted EBIT by more than $400 million in FY24.
  • Paytms Rs 18,300 crore public issue is the largest startup IPO in India after Swiggy's upcoming IPO.

Sources:

  • "Prosus Remains Bullish on Indian Market, Expects More IPOs from Portfolio Startups" - Times News Network, Mumbai.

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