Prosus, the Dutch investor, has announced plans to list its Indian fintech firm PayU in 2025, following the lifting of a 15-month regulatory ban on new merchant acquisitions and approval to operate as a payment aggregator in April.

The listing, expected to value PayU at $4.2 billion, according to UBS estimates, marks a significant milestone for the Indian digital payments market, where PayU competes with Razorpay and Walmart-owned PhonePe. The move also underscores Prosus' growing focus on India, where it has invested in several late-stage startups, including social commerce company Meesho and home services provider Urban Company.

Prosus' chief executive, Fabricio Bloisi, hinted that more portfolio companies could go public within the next 18 months, following the successful listing of food delivery and quick commerce firm Swiggy, which netted the company gains of $2 billion. The planned listing of PayU is seen as a key pillar for Prosus' investment business, with India emerging as a critical market for the Dutch investor.