Swiggy to sell Rapido stake to Prosus, WestBridge Capital for Rs 2,400 crore

Food and grocery delivery company Swiggy will sell its 11.8% stake in urban mobility startup Rapido to Prosus and WestBridge Capital for a total of Rs 2,400 crore, according to filings made with the stock exchanges.

Prosus and WestBridge Capital are existing investors in Rapido.

The transactions value Rapido at Rs 20,330 crore (or around $2.3 billion), which is a sharp increase from its last valuation of $1.1 billion when it raised funds in 2024.