Prosus eyes biggest bite of Swiggy’s Rapido stake. Valuation likely to double.

Dutch investment firm Prosus NV is looking to invest $150-180 million to grab the largest chunk of Swiggy’s 12% stake in Rapido, even as Nexus Venture Partners and WestBridge Capital are keen to increase their holding in the ride-hailing firm, three people said. Rapido is “likely to be valued at $2.5-2.7 billion" for the stake sale, one of them said. At that valuation, Swiggy’s 12% stake in Rapido will likely be valued at a little over $320 million, or ₹2,825 crore. Rapido was previously valued at $1.1 bil ...