IPO-bound Ola raises $500 mn through term loan
3 years ago

IPO-bound Ola raises $500 mn through term loan

Live Mint  

Cab-hailing firm Ola, which is eyeing a public listing by the first half of 2022, has raised $500 million via a Term Loan B from marquee international institutional investors, the firm said on Thursday. Ola is expected to utilize the term loan to fuel its vision for the future of mobility across its various businesses including ride hailing, vehicle commerce, food delivery, quick commerce and financial services. At Ola, we are accelerating our journey towards building the new mobility ecosystem to help a billion people move sustainably,” said Bhavish Aggarwal, founder and chief executive officer, Ola. Ola Cabs recently reported its first-ever operating profit in the year ended 31 March 2021, even as revenue growth slowed in a year hit by covid-19, according to the company’s filings with the ministry of corporate affairs.

Company Ola Mint Term Loan 500 Mn  raises  ola  loan  including  billion  mobility  term  company  reported  500  mn  ipobound  public  operating

History of this topic

Ola Electric IPO sees 26% valuation cut, benefiting late-stage investors
4 months, 3 weeks ago

Ola Electric IPO sees 26% valuation cut, benefiting late-stage investors

New Indian Express  

MUMBAI: The steep 26% valuation cut in the Rs 6,146 crore primary share sale from largest electric scooter maker Ola Electric at a price band of Rs 72-76 share will likely to see early investors’ investment value eroding by about 30%, but for the late entrants like SoftBank, Tiger Global, Matrix Partners and others, it will be a windfall. Later-stage …

Ola Electric to launch IPO next week, valuation seen at around $4.4 billion
4 months, 3 weeks ago

Ola Electric to launch IPO next week, valuation seen at around $4.4 billion

The Hindu  

SoftBank-backed Ola Electric's IPO will open for retail subscription on Aug. 2, the electric scooter maker said on July 27, 2024, a stock offering that according to two sources will value the company between $4.2 billion to $4.4 billion. Ola's expected valuation is about 18.5% to 22% lower than in its last funding round in September, which was led by …

Ola Electric may set valuation at around $4.5 billion for IPO: Report
5 months, 1 week ago

Ola Electric may set valuation at around $4.5 billion for IPO: Report

Hindustan Times  

Ola Electric is likely to value the company at around $4.5 billion for its upcoming initial public offering, it was reported. Ola Electric IPO: Ola Electric received official approval from market regulator Securities Exchange Board of India for its initial public offering. Earlier it was reported that Ola Electric received official approval from market regulator Securities Exchange Board of India …

Ola Electric faces investor pushback on IPO valuation: Report
6 months ago

Ola Electric faces investor pushback on IPO valuation: Report

Hindustan Times  

Ola Electric Mobility, India’s largest electric scooter maker, is facing investor pushback on its targeted valuation for its upcoming IPO, people familiar with the matter told Bloomberg. At this rate, Ola Electric’s current investors may opt not to sell existing shares in the company, the people told Bloomberg. The background Backed by SoftBank Group Corp. and Tiger Global Management, Ola …

Ola Cabs layoffs: Company to cut 10% staff, CEO Hemant Bakshi quits
7 months, 3 weeks ago

Ola Cabs layoffs: Company to cut 10% staff, CEO Hemant Bakshi quits

Hindustan Times  

Ola Cabs CEO Hemant Bakshi quit from his position just four months after taking the job while the firm is undertaking a restructuring exercise that could result in at least 10 per cent job cuts, Moneycontrol reported citing people in the know. Hemant Bakshi joined the ride-hailing firm in January and an unnamed source said as per the report, “With …

Ola Cabs CEO Hemant Bakshi steps down; company to reduce workforce by 10 per cent
7 months, 3 weeks ago

Ola Cabs CEO Hemant Bakshi steps down; company to reduce workforce by 10 per cent

India TV News  

Ola Cabs- a Ride-hailing platform is said to have gone through a rough time as Hemant Bakshi, the CEO resigned from his position. The source further says that the cab service-providing company is also expected to go for a team restructuring process which will impact at least 10 per cent of its workforce. It was back in January, that the …

BYJU’s To Raise $1.2 billion Through Term Loan B Funding; Know Details Here
3 years, 1 month ago

BYJU’s To Raise $1.2 billion Through Term Loan B Funding; Know Details Here

News 18  

BYJU’s, the world’s most valuable ed-tech start-up, currently at $18 billion, is in talks to raise $1.2 billion through a Term Loan B funding. A Term Loan B is funding sourced from global institutional investors that can foster a longer-term investment horizon than traditional banks. The acquiring drive of the company includes coding platform WhiteHat Jr., offline competitive exam preparation …

OYO raises $660 million via debt funding from investors
3 years, 5 months ago

OYO raises $660 million via debt funding from investors

Hindustan Times  

Hospitality unicorn OYO Hotels and Homes Ltd on Friday said that it raised debt funding worth $660 million from global institutional investors, including Fidelity Investments. OYO will use these funds to retire its past debts, strengthen the balance sheet and leverage the funds for other business purposes, including investment in product technology. “We are delighted by the response to OYO’s …

Ola to Invest Rs 2,400 Crore in Tamil Nadu, Will Set Up Largest Electric Scooter Factory
4 years ago

Ola to Invest Rs 2,400 Crore in Tamil Nadu, Will Set Up Largest Electric Scooter Factory

News 18  

Ride-hailing platform Ola on Monday said it has inked an agreement with the Tamil Nadu government to invest Rs 2,400 crore for setting up its first electric scooter factory in the state. Upon completion, the factory will create nearly 10,000 jobs and will be the world's largest scooter manufacturing facility that will initially have an annual capacity of 2 million …

Discover Related