Swiggy has now officially and fully exited Rapido by selling its entire 12% stake for nearly Rs 2400 crore, a profitable deal for Swiggy as it gets a near 2.5X return on its investment in just over three years.

In a regulatory filing, Swiggy informed that its Board of Directors have approved "the proposal for sale of 10 equity shares and 1,63,990 Series D Compulsorily Convertible Preference Shares ("CCPS") held by the Company in Roppen Transportation Services Pvt Ltd (Rapido) to MIH Investments One BV, a company incorporated in the Netherlands".

Prosus’s Netherlands-based arm MIH Investments One B.V. acquired shares worth Rs 1,968 crore, while WestBridge Capital’s Setu AIF Trust acquired another Rs 431.5 crore. Rapido's valuation has doubled to over Rs 20,000 crores ($2.4-$2.7 billion) a

See Full Page