Showing posts with label PUNE. Show all posts
Showing posts with label PUNE. Show all posts

Saturday, 6 January 2018

Uber's autorickshaw service back in India 2 years after it was shut down

Uber

Cab-hailing major Uber is re-launching its 'AUTO' service in India, almost two years after shutting down the offering in March 2016, starting with Bengaluru and Pune.

The US-based company, which is locked in an intense battle with homegrown player Ola, will allow customers to book autorickshaw rides through 'AUTO' option on its platform later this month in these two cities.

Ola, which also allows booking autorickshaw rides under 'Auto' service, had launched the offering in Bengaluru and Chennai in 2014. Ola Auto is currently operational across 73 cities with over 120,000 lakh autos associated with the company.

An Uber spokesperson said the company had "paused" the service "to see how that side of India's transport ecosystem evolves".

"Auto rickshaws are ubiquitous to mobility options in many Indian cities. To expand transportation choices for our riders, we are excited to launch AUTO in Bengaluru and Pune," the spokesperson told PTI.

In its previous attempt, Uber's AUTO offering was available in New Delhi, Coimbatore, Indore and Bhubaneshwar.

"We are re-launching AUTO starting with two cities. Gradual geographical expansion like this is common to how we operate in cities around the world and it is something that we are looking at very closely," the spokesperson said.
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Friday, 11 August 2017

Mauritian investor offers Rs 10,700-cr fund for Sahara's Aamby Valley

Aamby Valley, Sahara

A Mauritius-based investor, Royale Partners Investment Fund, on Friday said it has offered to invest $1.67 billion (over Rs 10,700 crore) in embattled Sahara group's Aamby Valley project.

The investment offer, proposed as a debt arrangement, comes at a time when the Supreme Court has ordered auction of the Aamby Valley resort town between Mumbai and Pune in Maharashtra. Sahara group pegs the market valuation of this project at over Rs 1 lakh crore.

Royale Partners Investment Fund Limited, registered in Mauritius as a global business company, is owned by Dubai- headquartered RPMG Investment which is into investment management, private equity, asset management and proprietary trading.

Replying to emailed queries about its proposed deal with Sahara group, RPMG Investment told PTI, "As deposed by Sahara before the Supreme Court of India, Royale Partners Investment Fund Ltd and its Limited Partners have agreed to invest USD 1.67 billion in the Aamby Valley Project.
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