Overview

• Swiggy approved selling 10 equity shares and 1.64 lakh Series D CCPS in Rapido to Prosus entity MIH Investment One B.V. for ₹1,968 crore.
• It also cleared the sale of about 36,000 Series D CCPS to Westbridge-managed Setu AIF Trust for ₹431.5 crore.
• The company said the move is a strategic decision intended to benefit its shareholders.
• Swiggy stated the transaction does not qualify as a related-party deal.
• The sales will be carried out through a share purchase agreement subject to customary closing conditions.