IndusLaw, Amarchand drive $100m RedBus exit to Ibibo

Tuesday, 25 June 2013 By Legally India Corporate M&A

IndusLaw advised the founders of Redbus and its early investors Helion, Inventus and Seed Fund, in selling out the online bus-ticketing service for $100m (Rs 597 crore) to the Ibibo Group, which is a joint venture of South African Media giant Naspers and Chinese internet company Tencent.

Amarchand Mumbai partners Vandana Shroff and Ajay Joseph acted for the Ibibo Group, which owns online travel aggregators Goibibo and TravelBoutiqueOnline.

IndusLaw Bangalore partner Suneeth Katarki with associates Basava Rao, Rashi Saraf, and Sherill Pal acted for the Bangalore-based Pilani Softlabs’ founders Phanindra Sama and Charan Padmaraju and the other investors in the buy-out of the seven-year old company.

In 2012 RedBus earned Rs 350 crore selling tickets over Rs 600 crore on more than 10,000 bus routes, according to Mint.

Amarchand MangaldasIndusLaw

Comments

Vinayak 25 Jun 2013, 11:10
+1 -0
Congrats Rao. All the best.
AMSS fan 25 Jun 2013, 19:40
+4 -1
[quote name="Vinayak"]Congrats Rao. All the best.[/quote]

Which Rao???? pramode rao or basava rao??

Many many congratulations Vandana Shroff, without your leadership and dedication this deal would have never come through.

- A dedicated fan
Guest 26 Jun 2013, 06:50
+2 -1
Well done Suneeth. Congratulations.
Guest 27 Jun 2013, 12:56
+1 -1
Ajay Joseph is not a partner? Was this article revised to add his name in?
Guest 19 Jul 2013, 06:09
+1 -1
Is Ajay Joseph a partner?
Commenting is closed for this article.