Swiggy has sold its entire 12% stake in Rapido for ₹2,399 crore to Prosus and WestBridge Capital. Prosus picked up shares worth ₹1,968 crore, while WestBridge bought ₹431 crore. The move comes as Rapido enters food delivery, raising conflict-of-interest concerns, and will boost Swiggy’s cash reserves.
Swiggy had invested ₹950 crore in Rapido in 2022, securing nearly 2.5x returns in three years. The sale also follows widening losses, with the company reporting a ₹1,197 crore net loss in Q1 FY26, nearly double from last year, amid a sharp rise in ad and promotional spends. CEO Sriharsha Majety said Swiggy will recalibrate investments to drive scale-led profitability.