Carzonrent to spin off Myles into a separate unit; will look to raise $20 million for self-drive business.

Industry:    2016-01-20

New Delhi-based Carzonrent, one of India’s largest car rental companies, will be spinning off its self-driving business Myles, into a separate unit, and is also in the market to raise fresh capital to grow the venture. The decision to spin off Myles into a new entity was first reported by ET in 2014, and the company has now appointed a consultant to oversee the process. Carzonrent, the parent company, will also look at raising about $20 million (about Rs 135 crore), specifically for My .. Read more at: http://economictimes.indiatimes.com/articleshow/50648713.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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