Bengaluru: 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. Documents filed with the Registrar of Companies and sourced from research firm Tofler show that Falcon Edge ploughed Rs402 crore into Ola and RNT Capital Advisers, a collaboration of Tata’s privately held investment firm RNT Associates Pvt. Fresh shares were issued to both Falcon Edge and RNT Capital at Rs13,511 apiece. Emails sent to RNT Capital and Falcon Edge on Wednesday evening remained unanswered as of press time. Ltd.Ola and Uber together completed about 500 million rides in 2016, as against about 130 million rides the year before, according to the report.

Source: Mint May 03, 2017 15:00 UTC