Ola Cabs, India's leading ride-hailing service, plans a $500M IPO at $5B valuation within three months.
Ola Cabs, India's leading ride-hailing service, plans to raise $500 million through an IPO at a valuation of about $5 billion. The company, backed by SoftBank, aims to file IPO papers with India's market regulator within the next three months. Ola is in discussions with investment banks, including Goldman Sachs, Bank of America, Citi, and India's Kotak and Axis, and plans to appoint IPO advisers within a month. This will be Ola's second attempt at an IPO, with its initial plan for a $1 billion raise in 2021 being cancelled.
April 19, 2024
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