Prosus to Acquire Stake in Ride Hailing App Rapido Following CCI Approval

The Competition Commission of India (CCI) has given the green light to Prosus' acquisition of a stake in the ride-hailing unicorn Rapido.  

This approval follows Prosus' entity, MIH Investments One BV, purchasing shares from existing Rapido investors, Swiggy and TVS Motors. 

Details of the Stake Acquisition 

In late 2025, Swiggy and TVS Motors announced their divestment from Rapido, selling their shares to the Dutch venture capital firm Prosus in secondary transactions.  

Swiggy offloaded its entire stake in Rapido to Prosus and WestBridge for approximately ₹2,400 crore. Prosus acquired shares worth around ₹1,968 crore in this transaction. 

Separately, TVS Motor signed share purchase agreements with Accel and Prosus, selling its stake valued at ₹287.9 crore. In this deal, Prosus acquired shares worth ₹145 crore. 

Prosus' Investment Strategy 

Beyond these secondary transactions, Prosus has been in discussions with Rapido to purchase fresh equity shares.  

Reports from August last year indicated that the global investor was exploring a $200 million investment in the ride-hailing startup at a valuation of $2.5-2.7 billion. 

Rapido's board had approved the issuance of Series E shares to Prosus as part of this plan. 

Read More: Mirae Asset Names Puneet Kumar as CEO of Venture and Private Investing Business in India! 

Prosus' Commitment to Rapido 

Prosus has been intensifying its investment in Rapido, with CEO Fabricio Bloisi highlighting the startup's ability to compete with incumbents like Ola and Uber.  

Rapido's cost structure allows it to serve a broader customer base, positioning it as a leader in India's mobility market. 

Rapido's Market Position 

According to Bloisi, Rapido has surpassed Uber and Ola in the Indian mobility market. Prosus has been relying on its portfolio companies, including Rapido, to generate significant profits from their IPOs.  

Last year, Prosus gained substantially from the IPOs of Urban Company, Meesho, and Bluestone, with Swiggy entering the public markets in 2024. 

Conclusion 

Prosus' acquisition of a stake in Rapido, following CCI approval, marks a significant step in its investment strategy. The transactions with Swiggy and TVS Motors highlight Prosus' commitment to expanding its presence in the Indian ride-hailing market. 

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