Overview

• Swiggy’s board approved two deals to sell its roughly 12% Rapido stake—Rs 1,968 crore to Prosus’s MIH Investments One BV and Rs 431.5 crore to WestBridge’s Setu AIF Trust—subject to closing conditions.
• Regulatory filings and coverage peg Rapido’s valuation at about $2.3 billion after the secondary sale, roughly double its level a year ago.
• Swiggy said the divestment monetises an investment and addresses a potential conflict after Rapido began piloting food delivery in Bengaluru through its Ownly app.
• Instamart will be hived off via a slump sale to an indirect step‑down wholly owned subsidiary, transferring all operations, assets, liabilities, and employees, with completion targeted after Q3 FY26 pending shareholder approval.
• Media reports indicate Prosus may inject $240–350 million of primary capital into Rapido, though Prosus has not confirmed, and brokerages differ on Swiggy’s outlook, with JM calling the sale a temporary fix and Nomura citing a bolstered cash buffer.