Uber India raises Rs 2,539 crore from its parent entity Uber BV

Topics Uber India

Uber India has raised Rs 2,539 crore from its parent entity Uber BV (the Netherlands). The Indian subsidiary has also moved data of its business and individual users (from its rides and Eats platforms) from Uber BV to the Indian unit.

Uber India Systems Private Limited (UISPL), registered in India, is held by Uber International Holding BV and Uber International BV. 

UISPL said in a September valuation report by BSR & Associates that its India Rides Intangible Asset and India Eats Intangible data were maintained by the Dutch entity.

Two transactions were carried out as part of this fundraising — UISPL raised funds from Uber BV while the business contracts and user information was transferred from the Dutch entity to the Indian entity (UISPL).

According to a report in September, UISPL was valued at Rs 567.8 crore, India Rights Intangible Asset at Rs 1,824.7 crore and India Eats Intangible Asset at Rs 714.4 crore.

According to data sourced from business intelligence platform Tofler, 15,987,615 equity shares were issued to Uber BV at a price of Rs 10 per share, at a premium of Rs 1,578.20 as part of the transaction. The decision was taken at a meeting of the Uber India board on October 1.

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