Temasek and Warburg Pincus have bought shares in the corporate-backed on-demand ride provider from Tiger Global Management and Matrix Partners India.
Singaporean state-owned investment firm Temasek and private equity firm Warburg Pincus have purchased $500m of shares in Ola, the India-based ride hailing service provider backed by several corporates, the Economic Times reported today.
The capital went to a secondary share purchase in which Tiger Global Management and Matrix Partners India, which collectively owned 13 to 15% of Ola, divested shares, according to people with knowledge of the matter.
Ola provides on-demand ride services in more than 250 cities across India,…
