Uber has infused nearly Rs 3,000 crore (around $330 million) into its Indian subsidiary, Uber India Systems Pvt Ltd, amid intense competition in the ride-hailing market, as Rapido expanded its market share rapidly.
The board of Uber India allotted 14.4 million equity shares at an issue price of Rs 2,022.85 each to raise Rs 2,921 crore, according to its filing with the Registrar of Companies (RoC).
The parent entity of Uber India Systems Pvt Ltd, Uber B.V., invested the above-mentioned amount in two tranches. The first tranche of Rs 200 crore came in…

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