Swiggy to sell Rs 2,400 crore stake in Rapido operator Roppen Transportation
Food delivery major Swiggy, which also owns Instamart, on Tuesday said its board has approved the sale of its stake in Roppen Transportation Services, which operates bike taxi aggregator Rapido, for a total consideration of nearly Rs 2,400 crore.
On July 31, Swiggy had said it is “actively re-evaluating” its investment in Rapido, as a potential conflict of interest may arise due to the latter’s intention of entering the food delivery space.
