India, July 31 -- Amid the entry of Rapido in the food delivery segment, Swiggy is mulling divesting its stake in the ride-hailing unicorn.

In its Q1 shareholders' letter, Swiggy said that its stake of about 12% in Rapido has appreciated significantly since its investment, but it is now "actively re-evaluating" the investment due to the entry of the startup in its bread-and-butter food delivery industry.

"Rapido, one of our investee companies, has announced their intention to enter the food delivery space. Having scaled up from a bike-taxi player to a full-fledged mobility platform, Rapido is now the largest mobility player in India by rides, and has been a disruptor in its space. As a shareholder, we are extremely happy with their succ...