New Delhi, Nov 9 (PTI) Bike taxi aggregator Rapido expects to start out engaged on the method for public itemizing by the tip of subsequent 12 months, a high firm official mentioned.
Rapido Co-Founder Aravind Sanka advised PTI that the corporate expects to take care of its development price of 100 per cent year-on-year for the following few years and be a a lot bigger participant in comparison with its nearest competitor earlier than going for the preliminary public providing (IPO).
“We simply need to develop additional earlier than fascinated by markets. Proper now, our thought is how will we develop additional… We’ve got been rising 100 per cent within the final two years. We need to at the very least proceed that development price for a couple of extra years after which consider the market,” he mentioned.
On whether or not Rapido is trying to begin making ready for IPO after two years, Sanka mentioned the timelines hold altering each quarter relying on the agency’s efficiency however the firm desires to be prepared no matter the way in which issues are outdoors.
“We’re making strikes round that, each from a preparedness viewpoint, enterprise viewpoint and every thing that’s anticipated. We try to do every thing and we need to be there by the tip of subsequent 12 months,” he mentioned.
Sanka mentioned the corporate expects to be very near posting operational revenue within the present fiscal 12 months because it has no money burn like rivals and it has been rising on the price of 100 per cent year-on-year.
“As an organization, operationally, we’re worthwhile, which is like eradicating some mounted price. We’re worthwhile total. We do not lose cash anymore. We spend money on model campaigns, which is likely one of the solely investments we do from a development viewpoint.
“Final 12 months, one quarter we turned worthwhile. This entire 12 months, we ought to be very near that,” he mentioned.
Sanka claimed that Rapido’s subscription charge as a proportion of revenues is far much less in comparison with its competitors the place it’s handed to customers and drivers.
A current second share sale by Swiggy pegged Rapido’s valuation at USD 2.3 billion.
Swiggy owned round 12 per cent stake in Rapido that it bought for about ₹2,400 crore, or about USD 270 million, in September 2025, citing a possible battle of curiosity with the bike taxi agency intent to enter the meals supply enterprise.
Sanka mentioned the corporate is giving exit to buyers who’re asking for it within the type of a secondary sale. He mentioned the worth of stake of early buyers lies within the vary of 10-15 instances over their investments.
An preliminary investor within the agency, Skycatcher, LLC Founder Sia Kamalie mentioned his investments in Rapido are long run and the bike taxi aggregator is at an fascinating stage of coming into and increasing into new classes.
He mentioned Rapido will broaden the journey sharing class in new cities the place Uber and Ola don’t function, and discover new classes equivalent to meals deliveries from an affordability perspective.
“It is in Rapido’s DNA to do essentially the most reasonably priced classes versus the present gamers. Everybody principally caters to the center and higher class who can afford to spend rather more. I feel it is an thrilling time for India’s web ecosystem as a result of you have got a participant who’s actually devoted to driving lower cost factors to broaden the choice,” Kamalie mentioned.
Skycatcher has participated in a number of funding rounds of the corporate since 2017. The corporate was based in 2015 by Pavan Guntupalli, Rishikesh SR, and Sanka.
