India's Swiggy rises on report of Rapido stake sale

Swiggy

06/08/2025 07:46

** Shares of India's food and grocery delivery platform Swiggy SWIG.NS rise 2.8% to 396 rupees

** Swiggy has initiated the process of divesting its stake of around 12% in startup Rapido, local news website Moneycontrol reports citing sources

** Swiggy plans to fully exit its investment in the ride-hailing platform firm, targeting 25 bln rupees ($285.2 mln) from the sale

** Swiggy and Rapido did not immediately respond to Reuters requests for comments

** Stock down ~29% YTD

($1 = 87.6740 Indian rupees)

 (Reporting by Yagnoseni Das in Bengaluru)

 ((Yagnoseni.Das@thomsonreuters.com;))