Food and grocery delivery platform Swiggy has exited its investment in bike taxi startup Rapido, selling its entire 12 percent stake for ₹2,399 crore to existing investors Prosus and Westbridge Capital, the company informed the exchanges on September 23.
Prosus acquired shares worth ₹1,968 crore ($223 million), while Westbridge picked up the remaining ₹431.5 crore ($49 million). Swiggy had earlier indicated plans to divest its holding due to a potential conflict of interest, as Rapido expanded into the food delivery space.
Sources said the latest deal is a complete secondary transaction. Rapido is also expected to raise a fresh primary funding round at a valuation between $2.7 billion and $3 billion—up significantly from $1.1 billion earlier.
The stake sale will strengthen Swiggy’s balance sheet in an intensely competitive food and grocery delivery market. As of Q1 FY26, Swiggy held cash and equivalents of ₹5,354 crore, which will be further boosted by the ₹2,399 crore inflow from the Rapido transaction.
The exit has also delivered substantial returns for Swiggy. The company invested about ₹950 crore in Rapido in 2022 and has now realized more than 2.5 times its investment in just over three years.
