Dutch firm Prosus NV eyes 12% Rapido stake from Swigyy for $150-180m

Swiggy is planning to sell its 12 per cent stake it holds in Rapido and Dutch investment firm Prosus NV is reportedly looking to invest $150-180 million to acquire the largest portion of Swiggy’s stake in Rapido, according to a report by Mint.

Swiggy had acquired the 12% stake in April 2022 for $180 million. At the proposed valuation, Swiggy’s stake is likely to be worth over $320 million, or Rs 2,825 crore. Rapido is “likely to be valued at $2.5-2.7 billion” for the stake sale, one source told Mint. The company had earlier been valued at $1.1 billion during its $200 million Series E round led by WestBridge Capital in September last year.