Swiggy to offload Rapido stake for ₹2,400 Crore

24 Sep 2025 , 02:15 PM

Swiggy approved the divestment of its stake in bike-taxi operator Rapido via two separate transactions. The aggregate value of these transactions is worth ₹2,399 Crore.

The company informed that it will sell shares worth ₹1,968 Crore to Dutch-based MIH Investments (Prosus Entity). In another deal, the company will transfer stake worth ₹431 Crore to Westbridge Capital LLC’s Setu AIF Trust, a SEBI-registered alternative investment fund.

As per the details disclosed by the company, this is a related-party transaction. Prosus Group and its associates are Swiggy’s largest shareholders with a 23.31% stake.

Swiggy stated in its filing with the exchanges that this move is part of company’s strategic decision to liquidate its investments and generate value for shareholders. Even though Swiggy remains focused on its core food delivery and grocery business.

Rapido is expanding rapidly within Indian cities in the bike-taxi and shared mobility space. This divestment by Swiggy is among the largest sell off in recent years.

As per the reports, Swiggy is offloading its 12% stake in Rapido at ₹2,400 Crore, implying a valuation of ₹20,330 Crore. 

In another development, the company also secured board approval to transfer quick-commerce operations under the Instamart brand to SwiggyInstamart Pvt Ltd, a wholly owned subsidiary.

At around 2.03 PM, Swiggy was trading 1.93% lower at ₹440.55, against the previous close of ₹449.20 on NSE. The counter touched an intraday high and low of ₹460.90, and ₹437.15, respectively.

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