India, Aug. 6 -- Food and grocery delivery platform Swiggy is reportedly planning to sell its entire 12% stake in ride-hailing startup Rapido, in a move that could fetch the company up to Rs.2,500 crore (approximately $300 million), according to a report by Moneycontrol.

Swiggy had invested around Rs.950 crore ($120 million) in Rapido in 2022, leading a funding round that valued the startup at about $827 million. Since then, Rapido's valuation has grown nearly threefold, now pegged between $2.7 billion and $3 billion, driven by rapid expansion in the ride-hailing sector. If the sale goes through at this valuation, Swiggy stands to make a 2.5x return on its investment.Mobile finder: iPhone 17 Air expected to launch in the coming months

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