Rapido Targets IPO Prep by Late 2026 as Growth Nears Profitability
The bike-taxi firm reports no cash burn, with investor liquidity boosted by a Swiggy sale that implied a $2.3 billion valuation.
Overview
- Co-founder Aravind Sanka says Rapido plans to begin formal preparations for a public listing by the end of 2026, with timelines evaluated each quarter.
- The company reports about 100% year-on-year growth for the past two years and aims to sustain that pace before moving to the market.
- Management says the business is operationally profitable and expects to be very close to full-year operational profit in FY26.
- Swiggy sold roughly 12% of Rapido in September for about Rs 2,400 crore, a secondary deal that pegged the company’s value near $2.3 billion.
- Rapido is arranging secondary exits for investors, with early stakes now valued at roughly 10–15 times, and it plans expansion into underserved cities and affordable categories such as food delivery.