CCI Gives Nod For Acquisition Of Additional Shareholding In Logistics Startup Rivigo By SCIL
India, Dec. 4 -- The Competition Commission of India (CCI) has approved the acquisition of Gurugram-based logistics startup Rivigo by Spring Canter Investment Ltd (SCIL) through the subscription of compulsorily convertible preference shares.
SCIL is an investment holding company incorporated under the laws of Mauritius and does not have any physical presence in India. Its shareholders are certain private equity funds managed by Warburg Pincus LLC (Warburg).
Founded in 2014 by Gazal Kalra and Deepak Garg, Rivigo offers pan-India delivery services to ecommerce, pharmaceutical, automobile, cold-chain and fast-moving consumer goods companies. The company said it covers more than 29K pin codes in India.
Rivigo uses an innovative 'driver rel...
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