Prosus expects as many as five IPOs from its India portfolio in the next 18 months, reflecting growing momentum in the world’s second-largest Internet market.
A group of Dutch investors on Monday named PayU giant, e-commerce startup Meesho, and online jewelry retailer Bluestone among startups preparing for an IPO.
TechCrunch reported last month that more than 20 Indian startups are looking to go public by 2025. These include Prosus-backed Urban Company, Pharmeasy and Captain Fresh.
Prosus’ announcement comes after it received $2 billion in proceeds from the IPO of food delivery company Swiggy last month. Swiggy’s $1.34 billion listing marked the largest technology IPO this year globally.
Prosus has also deepened its Indian investments in recent weeks, investing approximately $180 million in two new deals. The group acquired a 10.65% stake in supply chain platform Mintifi for $79.9 million, and took a 7.8% stake in housing finance company Vastu for about $100 million.
