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Competition Commission has given its nod for the proposed investments worth $500 million in ride-hailing platform Ola by Temasek, Warburg Pincus and Ola founder Bhavish Aggarwal.
ANI Technologies Private Limited offers taxi and auto-rickshaw aggregation services under the brand name ‘Ola’. The Competition Commission of India (CCI) has approved acquisition of shares by MacRitchie Investments (Temasek), Fort Canning Investments, Plum Wood Investment Limited (Plum Wood) and certain voting rights by Bhavish Aggarwal in ANI Technologies, according to two releases issued on Friday.
On July 9, Ola announced that Temasek, Warburg Pincus and Aggarwal have invested $500 million (about Rs 3,733 crore), ahead of its proposed IPO.
This is among the largest investments in the Indian consumer internet space by these funds, a statement had said.
Deals beyond a certain threshold require the approval of CCI.