spot_img
spot_img

Ola cofounders to increase stakes in the company

Ola founders, Temasek to raise stake in ANI Technologies, seek CCI’s approval

After diluting shares in various funding rounds, it is a time for Ola co-founders to increase stakes in the company. Thus, Ola’s cofounders Bhavish Aggarwal and Ankit Bhati along with MacRitchie (via Lazarus), have sought the approval of the Competition Commission of India (CCI) for increasing stakes in Ola parent company, ANI Technologies.

MacRitchie Investments is an indirectly wholly-owned subsidiary of Singapore-based investment company Temasek Holdings.

For the acquisition, the co-founders will use a Singapore-based special purpose vehicle Lazarus Holdings and use it as an investment holding company.

The three parties aim to indirectly acquire less than 10 percent of the share capital of ANI Technologies from certain existing shareholders of the company.

According to reports, Temasek has invested over $200 million in the Bengaluru-based company.

Recently, Temasek Holdings acquired secondary shares worth $30 million from the employees of the cab-hailing company. In the secondary transaction, Temasek bought the shares at a valuation of between $2.5-3 billion.

Besides, Ola is planning to raised funds from Temasek in a separate deal, which will be a combination of primary and secondary capital. As part of the deal, Temasek is expected to purchase about $150-200 million of secondary shares in the company.

Meanwhile, the Bengaluru-based company had raised a new round from Chinese investors at the valuation of $5 billion.

Although the funding amount is small, the valuation of Ola has crossed $5 billion for the very first time. During the recent secondary transaction worth $225 million from Temasek, the company valuation remained undisclosed.

The development was first reported by Mint.

Leave A Reply

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay on top - Get the daily Stories from Vyapaar Jagat in your inbox

Recent Articles

spot_img

Related Stories

Deneme bonusu veren siteler
supertotobet1248.com
https://joyfulantidotes.com/
maltepe escort ümraniye escort ataşehir escort anadolu yakası escort
Deneme Bonusu Veren Siteler
bonus veren siteler listesi
tedxpenn.com
deneme bonusu veren siteler
deneme bonusu veren siteler
https://www.fapjunk.com
hd porno