Swiggy Sells Stake in Rapido to Westbridge

Swiggy Ltd has decided to divest 36,000 compulsorily convertible preference shares in the bike taxi company Rapido, transferring them to investor Westbridge for approximately Rs 431.5 crore. This decision was formalized in a board meeting dated September 23, 2025, aiming to unlock the value of current investments.

The venture involves a share purchase agreement between Swiggy and Setu AIF Trust, a fund linked with Westbridge, as part of their financial strategies. The transaction's completion depends on fulfilling several conditions, and the involved parties have agreed on standard representations and infidelity obligations, common in deals of this nature.

Swiggy views this transaction as a strategic move to benefit both the company and its shareholders, aligning with Swiggy's long-term objectives. This marks a significant shift in Swiggy's investment portfolio management, highlighting the company's agile approach to investment strategy.

(With inputs from agencies.)