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Ola Cabs, India's leading ride-hailing platform, is reportedly planning an initial public offering (IPO) to raise $500 million at a company valuation of approximately $5 billion. Founded in 2010, Ola has become a major player in the Indian transportation industry, offering a range of services including ride-hailing, electric vehicle solutions, and fleet management.
According to sources familiar with the matter, Ola intends to file papers for approval with India's market regulator within the next three months. The company is said to be in talks with several prominent investment banks, including Goldman Sachs, Bank of America, Citi, and Indian firms Kotak and Axis, to appoint IPO advisers within a month.
This marks Ola's second attempt at going public, following a previous plan in 2021 to raise up to $1 billion that was ultimately shelved. Since then, the company's valuation has fluctuated, with some investors internally adjusting their valuations. Vanguard, an Ola shareholder, reportedly cut its internal valuation of the company to $1.9 billion in February.
Ola has been working to streamline its operations and improve its financial position in recent months. The company's losses more than halved in the fiscal year ending 2023, and it recently announced the closure of its international operations in the UK, Australia, and New Zealand.
As Ola prepares for a potential IPO, investors and industry observers will be closely watching how the company positions itself in the competitive ride-hailing market and addresses challenges such as regulatory hurdles and evolving transportation trends. The success of Ola's IPO could have significant implications for India's technology sector and the broader startup ecosystem.
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While Ola Cabs' IPO prospects remain uncertain, investors eager to gain exposure to the ride-hailing industry don't have to wait. At Linqto, we offer members access to interests in pre-IPO private companies, including potential leaders in the transportation and mobility sectors. Our platform allows you to diversify your portfolio with lower minimum investments in emerging industry leaders, potentially benefiting from their growth before they go public.
4 - The Times of India - SoftBank-backed Ola is India's answer to Uber and plans to file papers for approval with the country's market regulator within three months, said the sources, who declined to be named as the matter is confidential.
*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.
