Swiggy sells rapido interest £ 2400 crore to prosus, Westbridge, with 2.5x profits

Swiggy fully sold its £ 2400 crore in Rapido and sold shares to Dutch investment firm Prosus NV and Westbridge Capital. Of the total transaction, the subsidiary MIH Investments of Prosus one eg acquired one BV shares worth £ 1.968, while Westbridge Capital picked up the remaining £ 431.5 crore, Exchange launching showed Tuesday night. The agreement was carried out on an arm’s length base and awaits usual approvals, including the Competition Commission of India (CCI) and SWIGGY’s shareholders. Mint was the first to report on this development, which characterizes Swiggy’s full exit from the mobility star after more than three years as an investor. Swiggy first invested $ 180 million (about £ 1,350 crore) in Rapido for the first time, when the start was valued at $ 1.1 billion. The exit now appreciates Rapido at $ 2.5-2.7 billion, delivering a nearly 2.5x return for SWIGGY in just over three years. Rapido’s rise was fast. From a two-wheeler drive service, it has expanded to cars, cars and recently food delivery under its ‘own’ brand. By charging restaurants, almost half of the commissions imposed by the incumbents swiggy and Zomato try to open Rapido to open India’s now controlled food technology market. The move utilizes data and operational insights he gained through his earlier partnership with SWIGGY, where Rapido’s fleet was often deployed for delivery of the last kilometer. According to Bernstein, India’s food delivery market remains a two-player race, with Zomato owning 54% and SWIGGY 46%. In a June note, it said that Rapido’s access would probably not break this duopoly. According to HSBC, new players can win prize -sensitive users at the bottom, but the dominance of Zomato and Swiggy is unlikely to hinder. Rapido’s financial performance has improved. Income jumped in FY24 to £ 648 from £ 443 in FY23, while losses reduced to £ 371 from £ 675. Since the launch, Rapido has raised more than $ 500 million over six rounds, with supporters, including Prosus, Westbridge, Nexus Venture Partners, TVs Motor Co. Ltd., Yamaha Motor Co. Ltd. and Shell International eg. For swiggy, the sale offers essential liquidity. The company achieved a net loss of £ 1,197 crore in the June 2025 quarter, the previous year, even if turnover rose 54% year-on-year to £ 4.961.