TVS Motor Firm is promoting its whole stake in bike-taxi and mobility startup Rapido for Rs 287.93 crore, marking a full exit from the corporate it first backed in 2022.

The Chennai-based automaker introduced that it has signed definitive agreements with Accel India VIII (Mauritius) Restricted and MIH Investments One BV, an entity of Prosus, for the monetisation of its funding in Roppen Transportation Providers Pvt. Ltd., which operates underneath the Rapido model.

In line with the stock-exchange submitting, TVS Motor will promote 11,997 Collection D compulsorily convertible choice shares (CCPS) to Accel India VIII (Mauritius) for Rs 143.96 crore, and 10 fairness shares together with 11,988 Collection D CCPS to MIH Investments One BV for Rs 143.97 crore.

TVS had fashioned a strategic partnership with Rapido in 2022 to collaborate throughout business mobility and last-mile supply segments. The divestment now comes amid renewed investor exercise within the city mobility area, following Swiggy’s Rs 2,399 crore exit from Rapido in late September 2025. Swiggy, which held roughly a 12% stake, reportedly exited at a 2.5x return, citing a possible battle of curiosity as Rapido ventured into meals supply.

The dual transactions make this the second main investor exit from Rapido in current months and underscore shifting alliances in India’s evolving mobility ecosystem. Following Swiggy’s exit, Prosus, a typical investor in each firms, raised its possession in Rapido, whereas Accel, additionally a Swiggy backer, joined as a brand new shareholder.

In August, the corporate started piloting its standalone food-delivery app, Ownly, in choose Bengaluru neighborhoods, together with Koramangala and HSR Format, and is making ready for a broader rollout by the tip of November.