TVS exits Rapido with Rs 288 Cr stake sale to Accel and MIH

TVS Motor Company on Thursday said that it has entered into agreements to divest its stake in bike-taxi aggregator Rapido for Rs 287.93 crore.

TVS has signed agreements with Accel India VIII (Mauritius) Limited and MIH Investments One BV for the monetisation of investment held in Roppen Transportation Services Private Limited (Rapido), according to an exchange filing.

In 2022, TVS Motor entered into a strategic partnership with the on-demand delivery and mobility platform Rapido for collaboration in areas of mutual interest and the commercial mobility…