Is it safe to purchase? What would be the process of resell? How will they get transferred to us?
Also if you do decide to buy unlisted. Use a bigger platform like InCred 360 types. Shares are sent to your demat account. Process takes anywhere between 15 to 45 days after you have paid the money. Expectation is that brokers like InCred will ensure that the transaction actually goes through and you are not duped. There are hundreds of stories where P2P share transactions have gone sour with money lost and no shares credited.
Thanks for the comments. It does give some clarity. I’m assuming this is the first time such options have become popular. Let’s see how the ride goes with Swiggy :)
First of all they are not direct equity shares. Called CCPS. Compulsory Convertible Preference Shares. For each CCPS, you get 1401 shares after they list. Plus I believe there is a six months lockin post listing. You can't just sell them on day of listing as it is. BTW, Madhuri and Amitabh also invested in these CCPS. Background why these CCPS are in the market. Prosus VC arm of Naspers holds 33% in Swiggy. As per SEBI rules any entity holding more than 25% is classified as a Promoter. VC"s never want to be promoters, hence this wholesale dumping of theses CCPS units. BTW, it's not just InCred but almost every wealth management firm out there is peddling them.
Following.
Willing to buy swiggy unlisted vested shares. Anyone interested to sell send me your linkedin id. Will connect.
Managed to cash out atleast 25% of ESOPs (on average) up till now? This is a very important test of liquidity for our ecosystem. Its been almost 8 years of VC funded existence. Any thoughts on this?
