The Competitive Commission of India (CCI) has approved a $ 500 million investment in the taxi service company Ola based in the App. There was an investment proposal from Temasek, Warburg Pinkus and Ola founder Bhavish Agarwal. For transactions that exceed a certain threshold, we will tell you that CCI approval is required.
Investing Before IPO: Earlier on July 9, Telasek, Warburg Pinkus and Agarwal had raised $ 500 million or more before the company’s proposed initial public offering (IPO). Ola announced that it has invested Rs 3,733 crore. In addition, CCI acquired McRitchie Investments (Temasek), Fort Canning Investments, Plum Wood Investment Limited. (Plumwood) by Bhavish Agarwal to get some voting rights at ANI Technologies.
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Let us tell you that App based taxi and autorickshaw services are provided under ANI Technologies Private Limited under the Ola brand name. ANI, through its subsidiaries, is involved in the business of inter alia, food preparation and sales, digital payments. Bhavish is the Executive Director of ANI.
The company that has the most investment about MacRitchie. It is a subsidiary of Temasek Holdings (Private) Limited (Temasek). Temasek is a Singapore-based investment company. Fort Canning is a company with investments.