'Very Large Outcomes': Prosus Bullish On Swiggy And Rapido Amid Stake Sale Buzz
For all its portfolio companies, Prosus is constantly evaluating whether it wants to invest fresh capital or not.
Amid street chatter of Prosus NV picking up Swiggy's 12% stake in Rapido, the Dutch investment major believes that both Swiggy and Rapido parent Roppen Transportation Services can give large returns to investors.
"Both Rapido and Swiggy are performing extremely well and we think both of them can create very large outcome in the future," Gaurav Kothari, Prosus' principal investor for the India ecosystem, told NDTV Profit in an interview.
As per the latest data, the Tencent-backer currently holds around 2.7% in Rapido, and over 24% in Swiggy. Sriharsha Majety's firm, meanwhile, holds its 12% stake since 2022. Following Swiggy's first quarter earnings for fiscal 2026, the company informed shareholders that it would reconsider its Rapido stake as the cab aggregator entered the food delivery space.
"For all our portfolio companies we are constantly evaluating whether we want to invest fresh capital or not," Kothari explained. "Based on that, we form a thesis and take a decision."
In August, Rapido launched its standalone app 'Ownly' for food delivery. Ownly is currently live across select locations in Bengaluru, and most dishes on the platform are priced below Rs 150. The app currently includes brands like Wow!, Eatfit and Krispy Kreme and Faasos.
Rapido's food delivery app promises 'no hidden fees' on the delivery app and offers 'offline prices' for food online.
Rapido's foray into the food delivery space follows months of negotiations with restaurant partners over business models and services offered. Ownly will compete in the hotly contested food delivery space that Swiggy and Zomato currently dominate.
In 2023, Rapido had raised $180 million in a Series D round of funding led by Swiggy. "Swiggy's participation in this round will build on the synergies between the two companies," it had said. However, this investment lacked an exclusivity clause that could have restricted Rapido's D2C food delivery push, according to people in the know.
