CCI approved Prosus’s acquisition of additional equity in Rapido
Prosus acquired most of Swiggy’s 12% stake for ₹1,968 crore
Transaction included purchasing TVS Motor’s holding for roughly ₹287.9 cr
The Competition Commission of India (CCI) on Monday approved Dutch investor Prosus’s acquisition of an additional stake in Roppen Transportation Services, the operator of bike-taxi platform Rapido, clearing a key regulatory hurdle after a series of secondary transactions and ongoing discussions around a potential fresh equity raise, PTI reported.
Prosus’s move comes after a wave of secondary share sales by early strategic investors. In September, food-delivery major Swiggy exited Rapido by selling its roughly 12% stake in a transaction valued at about ₹2,400 crore, with Prosus and other buyers acquiring blocks from the selling shareholders. Deal-related filings and media reports indicate that Prosus picked up a significant portion of that sale, with the value of shares acquired estimated at around ₹1,968 crore.
1 January 2026
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The CCI clearance also follows a separate transaction in November, when TVS Motor agreed to sell its stake in Rapido to Prosus and Accel for approximately ₹287.9 crore, as part of a broader reshuffle of the company’s strategic shareholder base.
Secondary Buys Or Fresh Capital?
Prosus’s purchases so far appear to comprise a mix of secondary stake acquisitions and potential pre-positioning for fresh capital infusions. Multiple media reports in recent months have suggested that Prosus has also been in discussions to invest new equity into Rapido, with some outlets citing talks around an additional $200 million at a valuation of roughly $2.5–2.7 billion. However, the exact structure, whether a primary equity infusion, a secondary purchase, or a combination of both, and the timing have remained fluid in public disclosures.
Rapido’s board had earlier approved the issuance of Series E shares, which would enable a fresh funding round. It is not yet clear whether the Competition Commission of India’s clearance relates to a prospective primary capital raise or merely formalises the secondary share transfers.
Why the Transactions Matter?
For Prosus, increasing its exposure to Rapido aligns with its broader strategy of backing scaled local platforms where it sees category leadership and credible exit pathways through public listings or strategic sales. The Dutch investor has realised substantial gains from several India portfolio IPOs and exits in recent years and is widely viewed as an active, long-term backer of consumer-tech companies with strong network effects and market leadership.
For Rapido, the entry and consolidation of long-tenured institutional capital, whether through primary funding or secondary purchases, strengthens its balance sheet and governance profile as it looks to scale beyond its core bike-taxi business. The company has publicly discussed expansion into adjacent mobility offerings and longer-term plans for a potential listing, where a stable, globally recognised shareholder base can be a strategic advantage.
The exits by Swiggy and TVS Motor reflect shifting priorities at those companies rather than a weakening of Rapido’s business fundamentals. Swiggy has previously cited potential competitive overlap as Rapido expanded into adjacent mobility segments, while TVS’s sale formed part of a broader portfolio reshuffle. Their exits have paved the way for an ownership structure anchored by deep-pocketed global investors such as Prosus and Accel.
