Swiggy IPO: Prosus may pocket $500 million; founders snag $36 million via secondaries

Swiggy’s largest investor Prosus could realise more than $500 million from the food and grocery delivery firm’s upcoming initial public offering as it plans to offload 5% stake in the IPO. The amount is calculated based on Swiggy’s estimated listing valuation at $11-12 billion. It may change depending on the final issue price.

Besides Prosus, other investors including Elevation Capital, Accel and Norwest will sell part of their stake in the IPO, according to Swiggy’s updated draft red herring prospectus (DRHP) filed late on Thursday.