Prosus Gains $2 Billion on Swiggy Investment with IPO Value (1)

Tencent Holdings Ltd.’s top backer Prosus NV said it has made more than $2 billion on its Swiggy investment as it continues to highlight the value of its portfolio outside of its stake in the Chinese tech giant.

Prosus and its controlling shareholder Naspers Ltd. invested $1.3 billion building a 31% stake in Swiggy ahead of its stock market debut in India on Wednesday. The food delivery firm targeted an initial public offering valuation of up to $11.3 billion.

Swiggy’s listing ceremony at the National Stock Exchange in Mumbai on Nov. 13.

Photographer: Dhiraj Singh/Bloomberg

Prosus is selling down shares worth more than $500 million in the IPO and will retain 25% of Swiggy ...