Prosus Declines Comment on Selling Swiggy Shares in Upcoming IPO 

Restrictions on when to sell the shares and how to sell them are implemented for the promoters once the company goes public. Similarly, in the case of post-offer shareholding, companies have a three-year lock-in period. Speaking to the media, a spokesperson from Prosus said, “Swiggy is an important part of our portfolio, and we are big believers in Swiggy. We can’t comment on whether we are going to sell in the IPO or not. We really like the business, and we hope we can help the business’ performance.” In April of this year, Swiggy filed its IPO with the Securities and Exchange Board of India, SEBI. The company plans to raise Rs 3,750 crore via a fresh issue and around Rs 6,664 crore as an offer for sale. In its report, Prosus mentioned that Swiggy’s revenue grew 24 per cent, excluding M&A in the 2023 financial year. The report adds, “In its tenth year of operations, Swiggy‘s GOV3 grew 26 per cent year on year, and its ever-transacted user base reached the milestone of 104 million at the end of December 2023, supported by a fleet of around 387 000 active delivery partners. Prosus held 32.6 per cent of Swiggy at the end of the reporting period.” 

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