Rapido to start working on IPO by end of 2026
What's the story
Rapido, a leading bike taxi aggregator in India, is gearing up for its initial public offering (IPO) process by the end of 2026. The company's co-founder Aravind Sanka revealed this in an interview with PTI. He said that Rapido plans to maintain its impressive growth rate of 100% year-on-year for the next few years before considering going public.
Growth focus
'We just want to grow further before thinking about markets'
Sanka emphasized that the company's main focus is on further growth, not immediate market entry. He said, "We just want to grow further before thinking about markets." The co-founder added that while their IPO timeline keeps changing every quarter based on performance, they are preparing for it from all angles. "We are making moves around that, both from a preparedness point of view," he said.
Financial stability
Operational profit and no cash burn
Sanka also spoke about Rapido's financial health, saying the company is very close to posting operational profit in the current fiscal year. He said they don't have cash burn like their competitors and have been growing at a 100% year-on-year rate. "As a company, operationally, we are profitable," Sanka said. "We don't lose money anymore. We invest in brand campaigns, which is one of the only investments we do from a growth point of view."
Market performance
Swiggy's secondary share sale valued Rapido at $2.3B
A recent secondary share sale by Swiggy valued Rapido at $2.3 billion (approximately ₹19,000 crore). The food delivery giant sold its 12% stake in the bike taxi firm for about ₹2,400 crore ($270 million) in September 2025. Sanka said they are giving exits to investors asking for it through secondary sales, with early investors' stakes valued at 10-15 times their investments.
Expansion strategy
Plans for new categories and investor insights
Rapido plans to expand its ride-sharing category in cities where Uber and Ola don't operate. The company also intends to explore new categories such as food deliveries from an affordability perspective. Sia Kamalie, founder of Skycatcher, LLC and an early investor in Rapido, said his investments are long-term as the bike taxi aggregator is at an interesting stage of entering new categories.