Swiggy Ltd to Sell Stake in Rapido to MIH Investments One B.V. for INR 1968 Crore

Swiggy Ltd has approved the sale of 10 equity shares and 1,63,990 Series D Compulsorily Convertible Preference Shares (CCPS) held by the Company in Roppen Transportation Services Private Limited (Rapido) to MIH Investments One B.V., a company incorporated in the Netherlands. The transaction is valued at INR 1968,00,00,000 and is subject to customary conditions including approval from the Competition Commission of India and the shareholders of the Company under Section 188 of the Companies Act, 2013 and Regulation 23 of the Listing Regulations.