Swiggy to sell Rapido stake for Rs 2,400 crore
Food and grocery delivery major Swiggy will sell its entire 12% stake in ride-hailing platform Rapido through two separate transactions with Westbridge Capital and the Netherlands-based Prosus, totalling Rs 2,399.49 crore, according to a regulatory filing on Tuesday.
Swiggy to divest shares to Prosus and Westbridge Capital
Both Prosus and Westbridge Capital are existing investors in the ride-hailing startup. Swiggy will divest 10 equity shares and 163,990 Series D compulsorily convertible preference shares (CCPS)
