Wednesday, 24 September, 2025
Swiggy Exits Rapido Stake; Festive E-commerce Sales Surge Amid GST Cuts
Swiggy is selling its 11.8% stake in Rapido to Prosus and WestBridge Capital for $270 million, marking a 2.4x return on its 2022 investment. The move provides Swiggy with capital to bolster its Instamart division. Meanwhile, e-commerce platforms Amazon India and Flipkart have reported a 32–35% increase in sales during their festive season sales, driven by recent Goods and Services Tax (GST) rate cuts.
Read full story at Economic Times