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

Uber India has raised Rs 2,539 crore (US$ 363.29 million) from its parent entity Uber BV (the Netherlands). The Indian subsidiary has also moved the data of its business and individual users (from its rides and Eats platform) from Uber BV to Indian unit.

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

UISPL stated in its September valuation report, which was done by BSR & Associates, that its India Rides Intangible Assets and India Eats Intangible data were maintained by the Dutch entity.

As a part of this fundraising, two transactions were carried out i.e. UISPL raised funds from Uber BV while the business contracts and user information were transferred to the Indian entity (UISPL) from Dutch entity.

According to the September valuation report, UISPL was valued at Rs 567.8 crore (US$ 81.24 million), India Rides Intangible Assets at Rs 1,824.7 crore (US$ 261.08 million) and Indian Eats Intangible Assets at Rs 714.4 crore (US$ 102.22 million). 

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. Decision was taken on October 1, 2019 at a meeting of Uber India board.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.