TVS Motor Company has announced the sale of its entire shareholding in Roppen Transportation Services Pvt. Ltd., the parent company of bike-taxi startup Rapido, for ₹288 crore. The move marks a strategic exit by the Chennai-based two-wheeler giant, signaling a recalibration of its investment portfolio amid evolving dynamics in India’s mobility sector.
According to a regulatory filing, the sale will be executed through a secondary transaction, transferring TVS’s stake to existing investors and new participants in Rapido’s latest funding round. While TVS did not disclose the exact percentage of its holding, reports indicate that the investment was made to explore synergies in urban mobility and last-mile connectivity.
Rapido, founded in 2015, operates across more than 100 Indian cities, offering bike, auto, and cab-hailing services. The company has been actively expanding its footprint in tier-2 and tier-3 markets while focusing on profitability through operational efficiency.
Industry observers see TVS Motor’s exit as part of a broader strategy to realign capital toward core business areas—particularly electric mobility, premium motorcycles, and international expansion. The company recently made significant strides in its EV portfolio, with the iQube electric scooter driving strong sales growth.
The ₹288-crore divestment provides TVS with additional liquidity to fund innovation and strengthen its leadership in the electric two-wheeler space. For Rapido, the transaction underscores sustained investor confidence in India’s fast-growing shared mobility ecosystem.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
