Deals

India’s Ola Cabs plans $500 mln IPO, to appoint banks soon

19 April 2024, 4:28 am 1 minute

Reuters exclusively reported that Indian ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion.

Market Impact

This is Ola’s second attempt at an IPO, after a 2021 plan to raise up to $1 billion was canned.

Article Tags

Topics of Interest: Deals

Type: Reuters Best

Sectors: Business & FinanceTransport & Logistics

Regions: Asia

Countries: India

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Significant National Story

FILE PHOTO: Bhavish Aggarwal, CEO and co-founder of Ola, an app-based cab service provider, poses in front of an Ola cab in Mumbai March 3, 2015. REUTERS/Shailesh Andrade/File Photo

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