Product Manager

Swiggy is testing a highpriced concierge membership, Rare Club, targeting wealthy individuals.   The membership offers access to premium events and experiences, with a yearly fee starting from Rs 5...

Welcome to News Discussion's Private Community

- Swiggy is testing a high-priced concierge membership, **Rare Club**, targeting wealthy individuals. 
- The membership offers access to premium events and experiences, with a yearly fee starting from **Rs 50,000**. 
- The move aligns with Swiggy's upcoming **IPO bid**. 
- The Rare Club membership acts as an exclusive pass for high-end experiences. 
- Swiggy plans to open Rare Club subscriptions to a wider consumer base by the end of October.

Source: [The Arc](https://thearcweb.com/article/swiggy-tests-premium-concierge-membership-ahead-of-ipo-rare-club-ZggabSkU3FT8GSdT)

Swiggy Trials Premium Concierge Membership Pre-IPO

Journalist

Swiggy Trials Premium Concierge Membership Pre-IPO- Grapevine

Welcome to Banking & Finance's Private Community

Swiggy ipo

- Early investors in Swiggy, including Prosus, Accel, and Elevation Capital, are selling shares ahead of the company's IPO later this year.
- New investors, such as 360 One and high net-worth individuals, are buying these shares, showing confidence in Swiggy's growth potential.
- The company is signaling a potential IPO valuation of $10-13 billion, with current secondary transactions valuing it at $9.3 billion.
- Accel and Elevation Capital, early investors since 2015, are selling shares to realize gains accumulated over the years.
- Prosus, holding around 33% of Swiggy, needs to reduce its stake to 25% or below to avoid being tagged as a promoter during the IPO. 

 Source: Moneycontrol

Swiggy Shares on the Menu: Secondary Transactions Gain Steam Ahead of IPO

Most of us are curious of how decisions are made in major VC funds, as these funds are private and only share this information with their Limited Partners (LPs).

For the unknown, there are VC funds known as Corporate Venture Capital funds, which are the venture arms of corporate firms; they are required to disclose the performance of their CVC funds to the general public.

Prosus, one of the largest funds in this category, has just released its 2024 Annual Report, so thought it would be helpful to share the key takeaways with you all. So, here we go:

1/ Swiggy: On the Launchpad
Swiggy continues to impress with a 26% surge in its gross order value and a robust user base that's grown to 104 million. The food delivery giant isn't just expanding—it's preparing to soar with a confidential IPO filing. Swiggy's blend of core deliveries and quick-commerce ventures positions it as a frontrunner in the food-tech race.

2/ Byju's: A Reality Check
The tides have turned for Byju’s, once a darling of the edtech world, now facing a stark reality with a $493 million valuation write-down by Prosus. This significant markdown is a wake-up call to the high-flying valuations in the edtech sector, spotlighting the need for sustainable financial health over speculative growth.

3/ PayU: Quietly Confident
While specific updates on PayU were sparse, its role in Prosus’s fintech ambitions remains pivotal. PayU continues to weave through Prosus's strategy, likely focusing on enlarging its digital payment solutions and tapping into burgeoning financial service opportunities in emerging markets.

4/ PharmEasy: Unsung Potential
PharmEasy's story remains under the radar in this year’s dispatch. However, as a component of Prosus's health tech ventures, it’s poised to play a crucial role in expanding accessible digital healthcare solutions, streamlining services from prescriptions to doorstep delivery.

The Bigger Picture? Prosus's strategy paints a vivid portrait of India's evolving startup ecosystem. It's no longer just about rapid growth and sky-high valuations. The game has changed:

1/ Sustainability is king: Byju's fall from grace is a stark reminder that financial health trumps speculative growth.
2/ IPO readiness matters: Swiggy's preparations show the market's appetite for well-prepared tech giants.
3/ Quiet expansion: PayU and PharmEasy's low-key presence suggests strategic focus on steady growth over flashy headlines.
4/ Diversification is key: Prosus's varied portfolio highlights the importance of spreading bets across sectors.

Checkout their annual report at https://www.prosus.com/~/media/Files/P/Prosus-CORP/AR2024/1latestfinancialresults/04annualreport/fy2024annualreport.pdf - happy reading!

Would you like more breakdowns of such reports and documents? Let us know in comments below 👇🏽

Key takeaways from Prosus 2024 Annual Report

Are y`all planning to subscribe from swiggy IPO. If yes why? If not why not??

Subscribe Swiggy IPO?

Lawyer

- Swiggy plans to increase its IPO size from Rs 3,750 crore to Rs 5,000 crore through a fresh issue of shares.
- The final decision will be made at the company's extraordinary general meeting on October 3.
- The total IPO size could reach $1.4 billion if the new proposal is approved.
- Rivals like Zomato and Blinkit have improved profitability, intensifying market competition.
- Swiggy's revenue grew 36 percent in FY24, while losses decreased by 44 percent. 

 Source: [Moneycontrol](https://api.gvine.app/admin/grapevine/post/0b3956c3-e191-49bb-9014-61e765005b22/change/)

Swiggy Boosts IPO Size to Rs 5,000 Crore Amidst Fierce Market Competition

Approx 2000 Swiggy folks are going to be like “Paisa hi Paisa”. Anyone here who will be benefiting from this??

Swiggy’s 540 Cr of ESOP buy back ahead of IPO

- Swiggy has launched a $65 million ESOPs liquidity programme, marking its fifth such event since 2018.
- Employees across various levels can now receive liquidity for their ESOPs in the secondary market.
- This is the third consecutive ESOP liquidity event following those in July 2022 and 2023.
- Swiggy has enabled over Rs 1,000 Cr of ESOPs liquidity, benefiting 3200 employees over five events.
- The announcement comes as Swiggy prepares for its IPO, with plans to raise approximately $1.25 billion. 

 Source: Entrackr

Swiggy Announces $65 Million ESOPs Liquidity Programme

Source: https://inc42.com/buzz/four-indian-portfolio-companies-preparing-to-go-public-softbank-vision-fund-cfo-navneet-govil/

Swiggy IPO soon :o

Software Engineer

Welcome to Indian Startups's Private Community

Baron Capital, an investor in Indian food delivery startup Swiggy, has increased the value of its stake in the Indian firm, implying a valuation of $12.16 Baron Capital, an investor in Indian food delivery startup Swiggy, has increased the value of its stake in the Indian firm.

Baron boosts Swiggy valuation to $12.16B, above prior private market value | TechCrunch

Swiggy's valuation in it's best shape before the impending IPO

Founder

https://www.business-standard.com/amp/markets/news/swiggy-may-file-papers-with-sebi-for-ipo-in-2-weeks-to-raise-rs-8-000-cr-124021401787_1.html

Is Swiggy doing an IPO soon? Will their price be defined based on Zomato’s trading price?

Analyst

- Swiggy, backed by SoftBank, plans to file its draft red herring prospectus with India's market regulator by the first week of September, aiming for a $1.28 billion IPO.
- The IPO will be the second-largest for a venture capital-backed company in India, following Paytm, with Swiggy aiming to raise Rs 10,400 crore.
- Swiggy's valuation is expected to be around $16 billion, approximately 60% of Zomato's market capitalization, according to sources.
- The company confidentially filed documents for the IPO in April and received shareholder approval for a fresh issue of Rs 3,750 crore and an offer for sale worth Rs 6,664 crore.
- Swiggy's IPO comes as its rival Zomato has seen significant stock price gains, and the listing will set a valuation benchmark for Swiggy, which needs to achieve profitability to attract investors. 

 Source: [Your Story](https://yourstory.com/2024/08/swiggy-drhp-ipo-first-week-september)

Swiggy to File Draft Papers for $1.3B IPO by September First Week

Will Swiggy IPO affect Zomato Stock Performance?

Program Manager

- Swiggy founder, Sriharsha Majety, has been awarded a fresh package of stock options worth over $217 million ahead of the company's IPO. 
- This ESOP package will increase Majety's shareholding by 2-2.3%. 
- Other top executives and employees were also granted stock options, with the total package worth $380 million. 
- The vesting period for these options ranges from 1-8 years. 
- If Swiggy's IPO is valued at $12 billion, Majety's stake could be worth over $720 million.

Source: [The Arc](https://thearcweb.com/article/swiggy-founder-sriharsha-majety-esop-ipo-zomato-C9L3AA9HLY7qgXWP)

Swiggy Founder Receives $200M ESOP Package Pre-IPO

Food tech market is 50B+ ( duopoly)

Most of my friends use swiggy for everything like food, groceries and dine out.

They say Zomato sucks in ui ux and 3rd grade restaurants are there at Zomato, swiggy is better at offers and quality restaurants.

Zomato peak stock value was 180inr, which makes it a 15B firm, by that logic swiggy can get even 20B ipo.

PS - Baron capital already raised swiggy valuation to 13.9B usd

What do u think guys?

Swiggy valuation $15B ++

Senior Consultant

- Swiggy has filed for an IPO with SEBI, aiming to raise Rs 3,750 crore through fresh equity shares and an OFS of up to 185,286,265 shares.
- Prosus plans to offload 63.8% of the OFS, with other investors like Accel, Alpha Wave Ventures, and Tencent also participating.
- Funds will be used to invest in Scootsy, expand dark stores, and enhance technology and cloud infrastructure.
- Swiggy reported a 36% revenue growth to Rs 11,247 crore in FY24 and a 44% reduction in losses to Rs 2,350 crore.
- The IPO will heighten competition with Zomato, which currently has a market cap of $29.5 billion. 

 Source: [Entrackr](https://entrackr.com/2024/09/swiggy-eyes-rs-3750-cr-in-fresh-issue-as-prosus-prepares-to-sell-63-8-of-ofs/)

Swiggy Files Draft Papers For IPO, Targets $10 Billion Valuation

Eager to apply for IPO can’t afford Pre IPO market

Any idea when Swiggy IPO planned?

Swiggy was valued at $10B a couple of months back. Good luck employees waiting for ESOP buy-back in July 2023. Your shares are now worth half of what it used to be!

https://www.moneycontrol.com/news/business/invesco-cuts-swiggys-valuation-to-5-5-bn-2nd-markdown-in-4-months-10549051.html

Swiggy Trials Premium Concierge Membership Pre-IPO

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