Prosus CEO Fabricio Bloisi did not elaborate on the IPO timelines during a call with reporters on Monday.
The company also disclosed that it had acquired an 11% stake in supply chain finance firm Mintifi for approximately $80 million. Additionally, it invested $100 million in housing finance company Vastu Finance, securing an 8.4% stake.
“In October 2024, the group acquired a 10.65% effective interest in Mintifi Private Limited (Mintifi) for approximately $79.9 million. Mintifi is a leading supply chain finance fintech in India,” Prosus said in a regulatory filing.
These two new deals follow its investment in Bluestone as part of a Rs 900-crore funding round, which was first reported by ET.
Among Prosus’ key Indian businesses, PayU India recorded a 12% revenue growth in its payment services division. Its credit arm witnessed a 91% surge in revenue. Following the lifting of a regulatory embargo on onboarding merchants in April 2024, PayU has focused on activating new clients and mitigating take-rate pressures from shifts in the payments mix.
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Besides Meesho, PharmEasy is also poised for a potential public offering. Last month, Prosus made a partial exit from Swiggy, generating $500 million and achieving an internal rate of return (IRR) of 18%. It continues to hold a stake of just under 25% in the food and grocery delivery firm.
Globally, Prosus reported a 26% growth in consolidated e-commerce revenue and a 74% increase in free cash flow as of September 2024. Its AI-driven strategy aims to enhance operational efficiency and customer engagement, creating a robust foundation for long-term growth.
