Swiggy Mulls Divesting Stake In Rapido Amid Its Food Delivery Foray

Swiggy is mulling the divestment of its stake in mobility company Rapido due to a potential conflict of interest. The move comes as Swiggy's own quick commerce business, Instamart, has shown significant growth. Swiggy, which holds a minority stake, has indicated it is re-evaluating the investment and may monetize it to strengthen its balance sheet, as Rapido's foray into food and grocery delivery creates a competitive overlap.