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Last Updated : Jan 14, 2020 09:04 PM IST | Source: Moneycontrol.com

Key Swiggy investors rake up around Rs 1,600 crore through partial stake sales: Report

Some of the players who purchased stakes in Swiggy via these secondary stake sale rounds are Naspers, Tencent, Hillhouse, Coatur, DST, Wellington Management and Chinese delivery platform Meituan Dianping.

Some investors in food delivery player Swiggy earned as much as Rs 1,600 crore after successive rounds of partial stake sales, Financial Express reported.

Quoting data from Paper.vc, the report noted that Saif Partners, an existing investor in the company, made the highest return of around Rs 438 crore by selling a portion of its holding in Swiggy in FY19.

It was followed by Norwest which made Rs 401 crore, Bessemer with Rs 312.8 crore and Accel Partners with Rs 178.8 crore in similar stake sale rounds.

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The founder of Paper.vc Vivek Durai told the paper that these four investors in particular had been divesting their stake in Swiggy to new incoming investors steadily over the last financial year in, "successive high-value financing rounds".

Read | Zomato raises $150mn from Ant Financial at $3 billion valuation

The report noted that some of the players who purchased stakes in Swiggy through these secondary stake sale rounds are Naspers, Tencent, Hillhouse, Coatur, DST, Wellington Management and Chinese delivery platform Meituan Dianping.

However, even after reducing their stakes, Accel, Saif and NVP continue to be some of the largest shareholders in the food delivery platform after Naspers, which holds a stake of 38.82 percent. These three institutional investors have 7.99 percent, 7.21 percent and 6.25 percent holding in Swiggy respectively.

In FY19, Swiggy raised $210 million and $1 billion in two fundraising rounds which took place around June and December last year respectively.

Meanwhile, the company's key rival, Zomato, recently raised $150 million in funding from one of its existing investor Ant Financial, that pushed the food aggregator's total valuation up to $3 billion.

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First Published on Jan 14, 2020 09:04 pm
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