Ola has made a commitment of $200 million into foodpanda as part of its second attempt at the online food delivery business.
Germany's Delivery Hero group will get around 1% shareholding in Ola as part of the acquisition of foodpanda India last month by the online cab aggregator.
Latest regulatory documents with the Registrar of Companies (RoC) peg the deal value at Rs 202 crore. As per the share purchase agreement, Ola bought foodpanda India operations for Rs 28 crore and Delivery Hero invested over Rs 174 crore in Ola. Documents sourced through the business research platform Paper.vc pointed out the transaction also involved the transportation firm in turn investing in to foodpanda India.
Ola has made a commitment of $200 million into foodpanda as part of its second attempt at the online food delivery business. The Berlin-based online food ordering and delivery marketplace Delivery Hero group had acquired foodpanda's India operations in 2016.
Ola is making a second entry into the online food delivery segment, even as its rival Uber is pushing to grab a share of the fast-growing market through UberEats.