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Decoding the stake of founders and investors in Swiggy


Rahul Jaimini, one of the co-founders of Swiggy who hung his boot at the foodtech major earlier this month, holds a 2% stake in the company according to regulatory filings. He held the lowest stake amongst all three co-founders of the firm with 19,690 equity shares on a fully diluted basis, valuing it at nearly Rs 465 crore ($62 million) per Swiggy’s latest equity funding round.

Jaimini exited Swiggy after a six-year-long stint to join Pesto Tech, a career accelerator. His departure wasn’t expected and surprised the ecosystem.

Sriharsha Majety, on the other hand, remains the biggest stakeholder amongst the three founders with a 5.54% equity in the company. Majety, the chief executive and face of the company, holds 54,690 equity shares valued at Rs 1291.4 crore ($172.2 million), per the calculation based on the filings.

Swiggy

The third co-founder, Nandan Reddy, commands a 2.5% stake consisting of 24,690 equity shares of the company. His ownership is valued at Rs 583 crore ($77.73 million).

While the three founders together hold a little over 10% of Swiggy, the company’s biggest backer Naspers commands a whopping 40% stake in the company. Fintrackr’s calculation shows that the South African conglomerate’s shares amount to Rs 9320.5 crore ($1.24 billion) after the latest Series I round. Till date, Swiggy has raised Rs 1,125 crore in the ongoing Series I round.

Early backers such as Accel India, SAIF Partners and Norwest Venture Partners hold 7.6%, 6.86% and 5.94% equity respectively in the Bengaluru-based firm. Accel’s stake is valued at about Rs Rs 1,771.2 crore ($236 million) while SAIF’s shares amounted to Rs 1,600 crore ($213.23 million).

All three of the investors mentioned above have not participated in any equity funding round after Series E.

Russian billionaire Yuri Milner’s personal investment vehicle Apoletto Asia controls 1.57% while  DST Global, with a 6.17% equity in Swiggy has its shares valued at Rs 1,438.5 crore ($192 million).

Menlo Park-based hedge fund Caotue PE owns 3.6% and Hadley Harbor has 2.95% ownership in the Majety-led firm.

It’s worth noting that SAIF, Accel, Norwest, RB Investments, Harmony Capital and Bessemer Venture Partners had collectively raked in $222 million (Rs 1579.2 crore) as their shares were transferred to late-stage investors Naspers, Inspired Elite Investments, DST Euro Asia and Coatue PE Asia.

Entrackr had exclusively reported the secondary transaction in January.

The company’s late-stage investor Inspired Elite, which is wholly-owned by Meituan Dianping has a 6.26% stake, valued at Rs 1,459.16 crore ($194.55 million). Chineses internet giant Tencent also holds a 5.89% stake in the company through its Netherlands-based subsidiary Tencent Cloud Europe B.V, which was valued at $184 million after an infusion of the last tranche in the company.





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