CCI nod for Ola investments by Temasek, Warburg Pincus, founder Bhavish

Competition Commission has given its nod for the proposed investments worth USD 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.

MacRitchie is an investment holding company and is a subsidiary of Temasek Holdings (Private) Limited. Singapore-based Temasek is an investment company. Fort Canning is also an investment holding company.