Swiggy to Offload Rapido Stake to Prosus, WestBridge for INR 2,400 Cr

Swiggy has agreed to sell its stake in Rapido, a bike-taxi and logistics startup, to Prosus and WestBridge for INR 2,400 crore. This divestment is part of Swiggy's strategy to streamline its operations and focus on its core food delivery business. The deal reflects the growing interest in the Indian logistics and mobility sector, attracting significant investments from global venture capital firms. The funds raised from the sale will be reinvested into Swiggy's platform to enhance customer experience and expand its service offerings. Industry analysts view this transaction as a strategic move by Swiggy to strengthen its position in the competitive food delivery market.