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Prosus CEO expects to unlock more value from Indian investments over the next year | Company Business News

Livemint

Livemint · 9m ago

Prosus CEO expects to unlock more value from Indian investments over the next year | Company Business News

Prosus' Group CEO, Fabricio Bloisi, is optimistic about the investment opportunities in India. The company recently invested $80 million in Mintifi and $100 million in Vastu Housing Finance. Prosus reported a 26% increase in revenues to $3 billion for the six months ending September. The CEO believes that the successful listing of portfolio company Swiggy is just the first of many more IPOs to come in the next 12-18 months. Prosus has backed around 30 Indian startups and anticipates listing candidates such as Bluestone, PayU, and Meesho in the near future.

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Zepto to become profitable in FY26, hopeful for IPO plans next year: CEO Aadit Palicha | Company Business News

Livemint

Livemint · 8m ago

Zepto to become profitable in FY26, hopeful for IPO plans next year: CEO Aadit Palicha | Company Business News

Indian quick commerce major Zepto is set to become a fully Indian-owned company and achieve profitability in the next fiscal year after securing $350 million in funding from domestic investors. The company's co-founder and CEO, Aadit Palicha, also expressed optimism about a potential IPO in 2025. Palicha refuted claims that the quick commerce model is hindering the growth of traditional kirana stores, highlighting the positive impact of job creation and value for consumers. Zepto aims to expand to over 50 cities and expects to reach a revenue milestone soon. The company is on track to achieve profitability within the next financial year.

Swiggy backer Prosus looks to list Indian payments firm PayU in 2025

VCCircle

VCCircle · 9m ago

Swiggy backer Prosus looks to list Indian payments firm PayU in 2025

Dutch technology investor Prosus is planning to list Indian digital payments and lending firm PayU in 2025, according to its chief investment officer. While the initial plan was to list PayU by the end of 2024, Prosus is still working with the company to determine the best timing. PayU, which is owned by Prosus, recently emerged from a regulatory ban and has plans to list at a valuation of $5 billion to $7 billion. India is an important focus for Prosus, and it expects more of its Indian portfolio companies to go public in the next 12 to 18 months.

Tata Steel shareholders meet today; to consider merger with Indian Steel & Wire

Livemint

Livemint · 1y ago

Tata Steel shareholders meet today; to consider merger with Indian Steel & Wire

Tata Steel will hold a shareholders' meeting to discuss the merger with its subsidiary Indian Steel and Wire Products. The meeting, to be conducted through audio-visual means, will consider and approve the scheme, as directed by the National Company Law Tribunal (NCLT). The merger plan includes the amalgamation of six additional subsidiaries, aiming to unlock shareholder value and improve operational efficiencies. The CEO of Tata Steel expects the merger to be completed in the current financial year, subject to regulatory clearances.

Prosus’ Ashutosh Sharma on early-stage bets and potential in edtech despite Byju’s

VCCircle

VCCircle · 1y ago

Prosus’ Ashutosh Sharma on early-stage bets and potential in edtech despite Byju’s

Prosus, a Netherlands-based company, has made significant investments in Indian unicorns such as Swiggy, Meesho, Urban Company, Eruditus, and The Good Glamm Group. Although Prosus has been more cautious in its investments in recent years, it continues to see potential in the Indian edtech sector, despite the dominant presence of Byju's. With investments of nearly $7 billion in Indian companies so far, Prosus' Head of India Investments, Ashutosh Sharma, remains optimistic about early-stage opportunities in the market.

Prosus close to leading BlueStone’s $100-mn round

The Arc Web

The Arc Web · 1y ago

Prosus close to leading BlueStone’s $100-mn round

Dutch investment group Prosus is considering leading a $100 million round for BlueStone, an omnichannel jewelry company, with participation from Peak XV Partners, Steadview Capital, and Think Investments. The funding includes $60 million as primary capital for BlueStone's business expansion and the rest for secondary share sales by early backers. BlueStone, valued at $440 million in September 2023, expects to double its valuation to nearly $960 million. This marks Prosus' first late-stage investment since mid-2022, highlighting its significant return to the Indian startup ecosystem.

Prosus expects 5 IPOs from its India portfolio in next 18 months

TechCrunch · 8m ago

Prosus expects 5 IPOs from its India portfolio in next 18 months

Dutch investment group Prosus is preparing for potential IPOs of its Indian portfolio companies, including PayU, Meesho, and Bluestone, within the next 18 months. This move reflects the growing momentum in India's internet market, which is the second-largest in the world. Prosus-backed startups like Urban Company, Pharmeasy, and Captain Fresh are also among the more than 20 Indian startups expected to go public in 2025. Prosus recently earned $2 billion from food delivery firm Swiggy's IPO, and has made new investments totaling approximately $180 million in mintifi and Vastu.

EXCLUSIVE: Prosus to double down on Urban Company with $30M investment

YourStory

YourStory · 10m ago

EXCLUSIVE: Prosus to double down on Urban Company with $30M investment

- Prosus, a major technology investor, plans to double its investment in home services platform Urban Company ahead of the startup's anticipated public listing next year. - Prosus will invest around $30 million in an all-secondary transaction at a flat $2.6 billion valuation, giving a partial exit to Bessemer Venture Partners. - Accel Partners and Elevation Capital, early backers of Urban Company, have put their plans for further stake sales on hold and will await the company's IPO next year. - Prosus' decision to increase its stake in Urban Company follows a substantial gain from its investment in Swiggy, another successful Indian startup. - Prosus is diversifying its stake beyond tech investments, with recent investments in Vastu Housing Finance and plans to invest in Bluestone, a jewellery platform. - Urban Company, founded by Abhiraj Bhal, Raghav Chandra, and Varun Khaitan, last raised funding in 2021 and has initiated conversations with investment banks for an IPO.

Stung By Unicorn Losses, Prosus Takes A Fancy For Early Stage Bets In India

Inc42 · 1y ago

Stung By Unicorn Losses, Prosus Takes A Fancy For Early Stage Bets In India

Dutch investment major Prosus is shifting its India strategy from large bets and buyouts to seed and early stage investments. The move comes after some major investments in Indian startups by Prosus, including BYJU’S and Pharmeasy, have not yielded expected returns, while other portfolio companies are facing losses. The challenging market conditions and uncertainties around profitability and IPO timelines have prompted Prosus to focus on smaller investments in early-stage startups. Prosus has already invested more than $7 billion in Indian startups, mostly in unicorns like Swiggy and Meesho.

L’Oréal India seeks to amp up its online play, aims to become €1 bn business

Livemint

Livemint · 1y ago

L’Oréal India seeks to amp up its online play, aims to become €1 bn business

L'Oréal India aims to double its business in the next 3-4 years, reaching a target of Euro 1 billion. The company believes that despite the slowdown in the FMCG industry, they are shielded because they focus on the top-end segment in urban India. E-commerce is a major growth driver for L'Oréal, accounting for more than one fifth of its business in terms of value. The company expects the number of Indian consumers buying beauty products online to increase from 50 million to 150 million in the next 3-4 years. L'Oréal estimates that 50% of its growth in the next 4-5 years will come from e-commerce.

Prosus delays Indian payments firm PayU IPO to enhance business operations

Economic Times

Economic Times · 2m ago

Prosus delays Indian payments firm PayU IPO to enhance business operations

Dutch technology investor Prosus is delaying the IPO of Indian digital payments and lending firm PayU this year to focus on improving the business over the next six to twelve months, according to Prosus's Chief Financial Officer Nico Marais. While they initially aimed to list PayU by 2025, enhancing business operations has taken priority for now.

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