Swiggy’s IPO will also show how willing investors are to bet on business models that prioritize growth over profits amid challenging global conditions.
For Dutch investor Prosus, Swiggy’s listing could deliver a three-fold return. It will also be the venture firm’s biggest hit from India, where its $1 billion-plus gains from Byju’s have all but evaporated. Accel is expected to see a more than 35-fold return, one of its largest in the past five years.