PayU, Meesho, BlueStone Eye IPO In 18 Months: Prosus

SUMMARY

Prosus sees PayU, Meesho and Bluestone as potential initial public offering (IPO) companies in the next 18 months

The investor further sees Eruditus, Captain Fresh, Mintifi, Vastu and Mensa as potential IPO candidates in the future

Earlier today, Prosus noted in its H1 FY25 report that IPO-bound PayU India’s revenue soared 12% to $237 Mn in H1 FY25

Dutch technology investor Prosus Ventures sees PayU, Meesho and Bluestone as potential initial public offering (IPO) companies in the next 18 months, according to its first half of the financial year ending March 2025 (H1 FY25) investor presentation.

According to an investor presentation, the investor further sees Eruditus, Captain Fresh, Mintifi, Vastu and Mensa as potential IPO candidates in the future.

This comes weeks after Prosus CEO Fabricio Bloisi commented on the future of the Indian startups potential. Back then, he said “I expect we will see more of our investments in the India IPO in the coming twelve to eighteen months.”

Earlier today, Prosus noted in its H1 FY25 report that IPO-bound PayU India’s revenue soared 12% to $237 Mn in H1 FY25.

Notably, earlier this month, it was reported that Prosus was investing $30 Mn (around INR 252 Cr) into the hyperlocal services startup Urban Company in a secondary deal, giving a partial exit to Bessemer Venture Partners.

Prosus has invested more than $7 Bn in Indian startups so far, according to Inc42 and Tracxn data– mostly via large ticket sizes and investments in companies like Swiggy, Meesho, PharmEasy, The Good Glamm Group, Urban Company, among others.

Further, ride hailing unicorn Rapido was also reported to be raising $60 Mn from Prosus in a mix of primary and secondary share sales– as a part of its ongoing $200 Mn funding round.

In August, Prosus participated in omnichannel jewellery brand Bluestone’s INR 900 Cr pre-IPO round and invested INR 350 Cr in the company.

Meanwhile, the firm also wrote off its entire investment in BYJU’s earlier this year. It held about 10% stake in the company.

The company has now also started investing in the early stage funding rounds in India. For instance, in February 2023, Prosus invested in Bengaluru-based Kratos Studios in an INR 160 Cr seed round.

Prosus also participated in the $26 Mn seed round for Gurugram-based lifestyle platform Lyscraft, where Peak XV was the lead investor.

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