CCI Clears Prosus' Stake Acquisition In Rapido

TVS To Sell Rapido Stake Worth INR 288 Cr To Prosus & Accel

SUMMARY

CCI has approved Prosus’ entity MIH Investments One BV stake acquisition in ride-hailing unicorn Rapido, months after it was reported to be looking to purchase shares in the startup

This comes after Rapido investors Swiggy and TVS Motors both announced their divestments in Rapido, selling their shares to the Dutch VC firm in secondary transactions

Beyond the secondary transactions, Prosus has also been in talks with Rapido to purchase fresh equity shares over the past several months

The Competition Commission of India (CCI) has approved Prosus’ entity MIH Investments One BV stake acquisition in ride-hailing unicorn Rapido, months after it was reported to be looking to purchase shares in the startup.

In late 2025, Rapido investors Swiggy and TVS Motors both announced their divestments in Rapido, selling their shares to the Dutch VC firm in secondary transactions.

In September, Swiggy announced that it will be offloading its entire stake in the ride-hailing major to Prosus and WestBridge in a deal worth about INR 2,400 Cr. Prosus has lapped up Rapido shares worth around INR 1,968 Cr in this transaction.

Separately, TVS Motor announced in November that it had signed share purchase agreements with Accel and Prosus to sell its stake worth INR 287.9 Cr. In this deal, Prosus’ stood to acquire shares worth INR 145 Cr.

Beyond the secondary transactions, Prosus has also been in talks with Rapido to purchase fresh equity shares over the past several months. Reports in August last year said the global investor was exploring a $200 Mn investment in the ride-hailing startup at a valuation of $2.5-2.7 Bn. Rapido’s board had earlier approved the issuance of Series E shares to Prosus as part of this plan.

However, it is not clear whether the current CCI approval is linked to this proposed funding round or only to the secondary share purchases. Inc42 has reached out to both Prosus and Rapido to get more clarity on the proposed transaction.

The VC firm has been doubling down on its investment in the ride-hailing major for some time now. Last year, Prosus CEO Fabricio Bloisi said Rapido has taken on incumbents such as Ola and Uber by building a cost structure that allows it to serve a much wider customer base.

Late last year, Bloisi had declared Rapido as the leader in India’s mobility market, surpassing Uber and Ola.

Further, it is important to highlight that Prosus has been banking on portfolio companies like Rapido to rake in huge profits from their IPOs in the near future. Last year, the firm raked in substantial gains from the IPOs of Urban Company, Meesho and Bluestone. Besides, its portfolio company Swiggy hit the public markets in 2024.

Besides Rapido, other IPO-ready Indian companies in Prosus’ portfolio are PayU India, CaptainFresh, Mintifi, Eruditus, among others.