Prosus is in talks to invest up to US$180 million to buy most of Swiggy’s 12% stake in Rapido, according to sources.

Rapido is an India-based ride-hailing startup that has expanded into food delivery.

The deal would value Rapido at US$2.5-2.7 billion, while Swiggy’s stake is estimated at just over US$320 million.

Swiggy bought its 12% stake in April 2022 for US$180 million and is now seeking buyers after Rapido entered the food delivery market.

As of June, Prosus held a 2.7% stake in Rapido, while Nexus Venture Partners and WestBridge Capital owned 9.9% and 19%, respectively.

Other investors, including TVS Motor, Yamaha, and Shell, are also reportedly interested in increasing their holdings.

🔗 Source: LiveMint

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