The board of Swiggy, which also owns Instamart, has approved the sale of its stake in Roppen Transportation Services, which operates bike taxi aggregator Rapido, for a total consideration of nearly ₹2,400 crore. On July 31, Swiggy had said it is “actively re-evaluating” its investment in Rapido, as a potential conflict of interest may arise due to the latter’s intention of entering the food delivery space. In a regulatory filing, Swiggy informed that its Board of Directors have approved “the proposal for sale of 10 equity shares and 1,63,990 Series D Compulsorily Convertible Preference Shares (“CCPS”) held by the Ccompany in Roppen TransportatServices Pvt Ltd (Rapido) to MIH Investments One BV, a company incorporated in the Netherlands”.

Fair trade regulator CCI on Tuesday approved a mult

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