Swiggy Ltd. has fully exited its investment in Rapido, selling its 12% stake for ₹2,399 crore in deals that more than double the bike-taxi and mobility startup’s valuation compared to its last funding round.
According to an exchange filing on Tuesday, Swiggy will sell 10 equity shares and 1,63,990 CCPS (compulsorily convertible preference shares) of Roppen Transportation Services Pvt. Ltd.—Rapido’s operator—to Prosus Group’s MIH Investments One BV for ₹1,948 crore. Since Prosus already owns a 23.31% stake in Swiggy, this qualifies as a related-party transaction.
In a separate deal, Swiggy will sell 35,958 Series D CCPS to Westbridge Capital’s Setu AIF Trust for ₹431.5 crore. This transaction is not considered related-party. Both Prosus and Westbridge are existing investors in Rapido.
The transactions peg Rapido’s valuation at around $2.3 billion, compared to $1.1 billion in 2024. Meanwhile, reports by Moneycontrol suggest the valuation could be in the $2.7–3 billion range.
Swiggy’s Strategy Shift
The exit comes as Swiggy, led by CEO Sriharsha Majety, gears up for an intense quick-commerce battle against rivals Blinkit (Eternal Ltd.), Zepto, and Rapido this festive season. The company is bolstering its cash reserves, which stood at ₹5,354 crore as of June 30, 2025.
Earlier this month, Swiggy raised its platform fee for the third time in three weeks to ₹15 per order, which at 20 lakh daily orders is expected to add around ₹3 crore per day to its topline.
Despite a 54% YoY growth in operating revenue to ₹4,961 crore, Swiggy reported a net loss of ₹1,197 crore in Q1 FY26.
On Tuesday, Swiggy shares closed at ₹449.15 apiece on the BSE, down 0.04%, even as the benchmark Sensex slipped 0.07% to 82,102.10 points.
Swiggy Exits Rapido With ₹2,399 Crore Stake Sale; Startup Valued At $2.3 Billion
