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

While TVS Motor will sell 11,997 Series D CCPS of Rapido to Accel worth INR 143.96 Cr, it will divest another 11,998 Series D CCPS to Prosus for a sum of INR 144.97 Cr

The auto maker said that the deal, which aims to “monetise” its investment in Rapido, will be subject to regulatory approvals obtained by the two acquirers

This follows another investor and foodtech major Swiggy, last month, also approving the sale of its stake in Rapido to Westbridge and Prosus for about INR…