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PayU has expanded its board by appointing three new directors: Subhash Mundra, former deputy governor of the Reserve Bank of India, and Manoj Kumar Agarwal, cofounder of security solutions company DevRay, as non-executive independent directors. Ashutosh Sharma, head of investments and M&A for India at Prosus Ventures, joins as a non-executive, non-independent director. This brings the total number of board members to 11.
PayU has expanded its board of directors ahead of its IPO, adding three new members: former RBI deputy governor Subhash Mundra, Manoj Kumar Agarwal from DevRey, and Ashutosh Sharma of Prosus Ventures. This brings the total board size to eleven members. Recently, the company raised INR 1,013 Cr from its parent through a rights issue to support its IPO efforts.
Swiggy's IPO marks a significant achievement for both the company and Prosus, highlighting a milestone for digital commerce in India. Prosus, a major global technology investor, invested $1.3 billion for a 31% stake in Swiggy, which is now valued at over $2 billion, potentially yielding more than $500 million from the IPO.
Ashutosh Sharma
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Swiggy IPO marks significant milestone for Prosus in India
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Prosus N.V.
Naspers Ventures B.V.
Swiggy Ltd.
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Ashutosh Sharma
Naspers
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07:27 13.11.2024
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