Overview

• Swiggy’s board approved selling its Rapido holding via two deals: Rs 1,968 crore to Prosus entity MIH Investments One B.V. and Rs 431.5 crore to WestBridge’s Setu AIF Trust.
• The stake sales will be executed through share purchase agreements and will close subject to customary conditions outlined in the SPAs.
• Rapido’s secondary sale implies a valuation of roughly $2.3 billion, a level its CEO confirmed to TechCrunch.
• Swiggy said monetising the Rapido investment follows Rapido’s entry into food delivery and serves the interests of the company and its shareholders.
• Instamart will be transferred as a going concern to Swiggy Instamart Private Limited via a slump sale, pending shareholder approval, with completion expected after Q3 FY26; Instamart generated about Rs 2,130 crore in FY25 revenue, roughly a quarter of Swiggy’s standalone total.