Uber-rival Rapido doubles valuation to $2.3B following Swiggy stake sale
Swiggy has sold its entire 12% stake in Rapido for approximately $270 million through two distinct transactions.
MAIN POINTS
- Swiggy divested its 12% stake in Rapido.
- The sale was completed through two separate deals.
- The total transaction value was around $270 million.
- This move marks Swiggy's complete exit from Rapido.
TAKEAWAYS
- Swiggy's strategic decision to exit Rapido.
- The significant financial return from the stake sale.
- Potential impact on Swiggy's investment strategy.
- Rapido's ownership structure changes with Swiggy's exit.