Prosus Accelerates Stake in Rapido with CCI's Nod
The Competition Commission of India (CCI) approved Dutch investment firm Prosus' acquisition of more equity in ride-hailing firm Rapido. This move involves MIH Investments One BV acquiring shares in Roppen Transportation Services Pvt Ltd. Rapido plans a public listing in 2025 and aims for significant growth before its IPO.
- Country:
- India
The Competition Commission of India (CCI) has given the green light to Dutch investment firm Prosus to increase its equity in Rapido, a prominent ride-hailing service.
The acquisition, carried out through Prosus's subsidiary MIH Investments One BV, involves purchasing additional shares in Roppen Transportation Services Pvt Ltd, which operates Rapido.
Rapido, aiming for an IPO by 2025, is focusing on continued growth, having also seen a significant stake sale by Swiggy due to business strategy divergences.
(With inputs from agencies.)
- READ MORE ON:
- Prosus
- Rapido
- CCI
- investment
- ride-hailing
- acquisition
- IPO
- growth
- Swiggy
- transportation
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