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Induslaw Series B client Olacabs matures into $200m M&A of TaxiForSure, opposite Amarchand, BMR

Induslaw represented Olacabs, which must fast be turning into one of its most high-profile and valuable clients, in a $200m takeover of its second-largest rival TaxiForSure, according to Mint.

Indus Delhi partner Gaurav Dani with senior associates Divya Varghese and Jinni Sinha acted for Ola, which had been a firm client since its Series B investment, Dani said in November of last year after advising the cab company on a $210m SoftBank investment.

Amarchand Mangaldas Bangalore partner Reeba Chacko acted for Taxi For Sure’s investors, Accel Partners, Bessemer Venture Partners and Helion Venture Partners, who will receive Ola shares as part of the deal.

BMR Legal Amit Khansaheb acted for TaxiForSure co-founders Aprameya Radhakrishna and Raghunandan G, who will move to advisory roles after the takeover.

The cash-and-stock deal includes 1,700 employees who will all remain employed in the separate TaxForSure entity, where nothing would change for customers.

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