Rapido Sets Sights on Public Listing
Indian bike taxi aggregator Rapido is preparing to embark on its journey towards a public listing, with plans to initiate the process by the conclusion of next year. This strategic move was confirmed by the company's Co-Founder, Aravind Sanka, in a recent discussion.
The company is focusing on sustaining its remarkable growth trajectory of 100 percent year-on-year for the coming few years. Sanka emphasized that the primary objective is to achieve a significantly larger market presence compared to its nearest competitor before proceeding with an Initial Public Offering (IPO).
Path to Profitability and Market Readiness
Rapido's financial health appears robust. The company anticipates being very close to posting an operational profit in the current fiscal year. Sanka highlighted a key advantage: Rapido experiences no cash burn unlike some of its rivals, while still managing to double its scale annually.
"As a company, operationally, we are profitable... We don't lose money anymore," Sanka stated. He clarified that investments are primarily directed towards brand campaigns to fuel further growth. The company had already turned profitable for one quarter last year and expects to be near that milestone for the entire current year.
Regarding the IPO timeline, Sanka noted that while specific dates may shift each quarter based on performance, the goal is to be fully prepared. "We are making moves around that... We want to be there by the end of next year," he affirmed, indicating comprehensive preparations are underway from both business and compliance perspectives.
Valuation and Strategic Expansion
A recent secondary share sale involving Swiggy has pegged Rapido's valuation at an impressive USD 2.3 billion. In September 2025, Swiggy sold its approximately 12 percent stake in Rapido for about ₹2,400 crore (USD 270 million), citing a potential conflict of interest as Rapido eyes an entry into the food delivery sector.
Sanka mentioned that the company facilitates exits for early investors through secondary sales, with their stake values having multiplied by 10 to 15 times their original investment.
An initial investor, Skycatcher LLC, through its Founder Sia Kamalie, expressed long-term confidence in Rapido. Kamalie pointed out that Rapido is at a fascinating juncture, expanding into new categories. The strategy involves broadening ride-sharing services to cities not served by giants like Uber and Ola, and venturing into affordable food delivery.
"It's in Rapido's DNA to do the most affordable categories... I think it's an exciting time for India's internet ecosystem because you have a player who's really dedicated to driving lower price points to expand the option," Kamalie remarked. Skycatcher has backed the company since 2017. Rapido was originally founded in 2015 by Pavan Guntupalli, Rishikesh SR, and Aravind Sanka.
