Swiggy’s appetite for funds doesn’t seem to abate but the online food order-delivery startup has been able to position itself in a way to attract more funding. What is interesting now is the company is creating new records in the Indian startup space by getting into secondary share sale within just 4 years of having launched the venture.

According to an Economic Times report, shares in Swiggy are changing hands with some investors divesting part of their portfolios whereas some may completely opt out. The shares being divested will be bought by other existing investors.

Again, beating all expectations, Swiggy’s valuation has almost doubled within a short span of time from when it raised its last funding. When it last raised funds, the startup was valued at $1.3 billion and now it has crossed the $2.5 billion mark and inching towards $3 billion. The secondary share sale could be worth around $300 million and the total amount raised may reach a whopping $900 million.

Bessemer Venture Partners, Norwest Venture Partners, Accel and SAIF Partners are existing investors of Swiggy who could divest only part of their stakes and retain the rest. Some who may offload the entire holdings may be RB Investments and Harmony Partners holding around 3% together and these two had made investments in Swiggy in the very beginning. Now, to give you an indication of the significance of this secondary share sale, one investor, Norwest alone, having made a total investment of $20 million, may walk away with $80 million by parting with a portion of the money invested.

However, the details of the pricing at which the shares are being liquidated has not emerged. In face none of these details above have been corroborated by any of the entities involved, neither Swiggy nor the investors. It is said the secondary share price may not be in the direct ratio of the new valuation of the company but will be at a discount.

The largest investor to scale up their exposure in Swiggy will be Naspers. They are expected to take their stakes from 23.3% to almost 40%, retaining the largest shareholder tag. Tencent of China, which owns the popular WeChat messaging service will also pick up $50 to $100 million, it is learnt. Meituan Dianping, Coatue Management and DST Global, the other existing investors will also be involved in these transactions, according to these sources.

Swiggy is by far the leader in the business with Zomato taking some fast strides in the catch-up game. But Swiggy has definitely been able to deliver better numbers in terms of the per-order value and other parameters. If the startup goes on to deliver best results, it could become a role model to other Indian startups.