Deal watch: TVS Motor sells Rapido stake for Rs 288 cr; marks full exit from 2022 partnership

TVS Motor Company is divesting its stake in bike-taxi aggregator Rapido for Rs 287.93 crore, marking a complete exit from its earlier strategic partnership. The company has signed agreements to sell its holdings in Rapido’s parent company, Roppen Transportation Services Pvt Ltd, to Accel India VIII and MIH Investments One BV. Completion of the transaction is subject to regulatory approvals.