Rapido Targets IPO Process by End of 2026, Aims for 100% Growth
Bike taxi aggregator Rapido plans to initiate its public listing process by the end of 2026, according to co-founder Aravind Sanka. The company aims to maintain its impressive 100% year-on-year growth rate for several more years before going public.
Key Takeaways
- Rapido expects to begin IPO preparations by end of 2026
- Company targets maintaining 100% YoY growth before listing
- Current valuation stands at $2.3 billion following Swiggy’s stake sale
- Rapido nearing operational profitability in current fiscal year
Growth Strategy Before Public Listing
“We just want to grow further before thinking about markets,” Sanka told PTI. “We have been growing 100% in the last two years. We want to at least continue that growth rate for a few more years and then think of the market.”
The company is preparing for the IPO from both business and operational perspectives, though timelines may adjust quarterly based on performance.
Financial Performance and Valuation
Rapido expects to be very close to posting operational profit in the current fiscal year, with Sanka noting the company has no cash burn like competitors. “We don’t lose money anymore,” he stated.
A recent secondary share sale by Swiggy valued Rapido at $2.3 billion. Swiggy sold its 12% stake for approximately ₹2,400 crore ($270 million) in September 2025, citing potential conflict of interest as Rapido plans to enter food delivery.
Investor Perspective and Expansion Plans
Early investors have seen returns of 10-15 times their initial investments. Skycatcher LLC Founder Sia Kamalie, an early investor, described Rapido as being at “an interesting stage of entering and expanding into new categories.”
The company plans to expand ride-sharing services to cities where Uber and Ola don’t operate and explore affordable food delivery options.
“It’s in Rapido’s DNA to do the most affordable categories as opposed to the current players. Everyone basically caters to the middle and upper class who can afford to spend much more,” Kamalie said.
Founded in 2015 by Pavan Guntupalli, Rishikesh SR, and Aravind Sanka, Rapido has attracted consistent investment since 2017 as it positions itself for future public markets.
