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