India: Ratan Tata fund, Falcon Edge infuse $104m in Ola Cabs
Ratan Tata’s RNT Capital Advisers and existing investor Falcon Edge Capital invested Rs670 crore in Ola in the November funding round in which the cab aggregator raised Rs1,675 crore from SoftBank Group Corp., according to regulatory filings. Tata, chairman emeritus of Tata Sons Ltd, had invested an undisclosed amount in Ola, run by ANI Technologies Pvt. Ltd, in his personal capacity in July 2015. Documents filed with the Registrar of Companies and sourced from research firm Tofler show that Falcon Edge ploughed Rs402 crore into Ola Cabs and RNT Capital Advisers, a collaboration of Tata’s privately held investment firm RNT Associates Pvt. Ltd and University of California, invested Rs268 crore. Fresh shares were issued to both Falcon Edge and RNT Capital at Rs13,511 apiece.