Prosus eyes 5 more IPOs in 18 months

MUMBAI: After Swiggy's bumper listing on the bourses last month, Prosus is eyeing more initial public offerings in India, a market where it has invested more than $8 billion over the years.

In an earnings presentation on Monday, the Dutch technology investor said that five Indian companies from its portfolio including Meesho, Bluestone and PayU have the potential to go public in 18 months without sharing specific timelines. Fintech firm PayU is owned by Prosus.

"We started in India in the right time. India is a big opportunity and we are going to crystallise a lot of our value through our India investments over the next year," Fabricio Bloisi, group CEO at Prosus, said in a post-earnings media call. Prosus made gains of over $2 billion on its total investment in Swiggy and is the largest shareholder in the startup with a stake of over 20%.