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Ola gets a breather after sharp valuation cut ahead of planned IPO

VCCircle

VCCircle · 1y ago

Ola gets a breather after sharp valuation cut ahead of planned IPO

Ola, an Indian ride-hailing company, has received a slight boost in valuation from one of its investors after facing a sharp cut in its valuation last year. The private equity-backed cab aggregator has recently seen a marginal increase in its value, providing some relief for the company. This comes as Ola prepares for its planned Initial Public Offering (IPO).

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Cab-hailing firm Ola Consumer gets another valuation cut

VCCircle

VCCircle · 9m ago

Cab-hailing firm Ola Consumer gets another valuation cut

Cab-hailing firm Ola Consumer is facing another valuation cut as an existing investor, Vanguard, has revised its fair value estimate downwards by about 15%. This comes after Vanguard slashed Ola's valuation to just under $2 billion last year. Ola has experienced significant fluctuations in valuation over the past four years and is now worth roughly half of its group firm, Ola Electric. The COVID-19 pandemic hit Ola hard, with revenue plunging about 95% as lockdown measures curbed travel demand. Ola Consumer is reportedly planning an IPO following in the footsteps of Ola Electric.

Vanguard cuts Ola’s valuation to $2 bn amid IPO buzz

The Arc Web

The Arc Web · 9m ago

Vanguard cuts Ola’s valuation to $2 bn amid IPO buzz

Vanguard, a U.S.-based asset management firm, recently reduced its valuation of Ola, India's ride-hailing company, to around $2 billion, down from a 2021 peak of $7.3 billion. Vanguard initially invested in Ola in 2015, valuing it at nearly $5 billion. Over the years, Ola's valuation has fluctuated, including a sharp drop to $1.9 billion in early 2024, a 74% decrease from the 2021 high. This markdown is significant, as Vanguard holds $9.3 trillion in assets and Ola is preparing for an IPO. Analysts believe Vanguard's valuation cut may influence Indian mutual funds' perceptions of Ola as it moves toward public listing.

Ola plans $500 million IPO, to appoint banks soon

Economic Times

Economic Times · 1y ago

Ola plans $500 million IPO, to appoint banks soon

Indian ride-hailing company Ola is planning to raise $500 million in an initial public offering (IPO) that would value the company at around $5 billion. The SoftBank-backed company aims to file the necessary papers with India's market regulator within three months. Ola is in talks with several investment banks, including Goldman Sachs and Bank of America, and plans to appoint IPO advisers in the near future. This would be Ola's second attempt at an IPO, after a planned $1 billion fundraising in 2021 was scrapped. The company's investors have recently lowered its valuation to $1.9 billion.

Ola Electric gets $50 million in debt financing from EvolutionX Cap

Economic Times

Economic Times · 1y ago

Ola Electric gets $50 million in debt financing from EvolutionX Cap

Indian electric two-wheeler manufacturer, Ola Electric Mobility, has raised ₹410 crore (approximately $50 million) through non-convertible debentures from EvolutionX Debt Capital, as per regulatory filings. EvolutionX, backed by DBS and Temasek, has previously invested in Indian internet companies such as Udaan, Mensa Brands, PharmEasy, and LendingKart. This funding comes after Ola Electric had secured $240 million in debt financing from the State Bank of India in 2023. The company aims to raise up to ₹5,500 crore ($737 million) through its upcoming IPO, targeting a valuation between $7-8 billion. Ola Electric also plans to invest ₹500 crore into its subsidiary, Ola Electric Technologies.

SoftBank-backed Ola Electric's IPO attracts $2 bn of bids from big institutions

VCCircle

VCCircle · 1y ago

SoftBank-backed Ola Electric's IPO attracts $2 bn of bids from big institutions

Ola Electric, backed by SoftBank, received over $2 billion in bids from big institutions ahead of its initial public offering (IPO). The IPO aims to raise $734 million and has already allocated shares to institutions such as Nomura, Norges Bank, SBI Mutual Funds, and HDFC Mutual Funds. Ola Electric plans to sell shares in the range of 72-76 rupees, targeting a valuation of $4 billion. The IPO is set to open for retail investors and eligible employees on Friday and close on Tuesday.

LG rewires strategy before hitting IPO switch

Economic Times

Economic Times · 2m ago

LG rewires strategy before hitting IPO switch

LG Electronics is restructuring its strategy ahead of a year-end IPO due to declining sales in India during the first half of 2025. The company is reducing in-store sales promoters and enforcing a performance-oriented approach to cut costs. Sales have dropped due to a cooler summer, leading to decreased demand for air-conditioners and refrigerators, vital sales drivers for LG. The IPO, initially planned for early 2025, has been rescheduled for October-November.

Urban Company Slashes IPO Size to ₹528 Cr, Gets Green Light from Board

OutlookIndia

OutlookIndia · 4m ago

Urban Company Slashes IPO Size to ₹528 Cr, Gets Green Light from Board

Urban Company has received board approval to reduce its IPO size to ₹528 crore from an initially planned ₹3,000 crore. The company plans to file draft papers with SEBI soon. This decision comes after entering the quick commerce sector with Insta Maids, a 15-minute booking service for household help. Urban Company has raised $376 million across 12 funding rounds, with a valuation of $2.5 billion. It also launched products like water purifiers and smart locks.

BlackBuck gets a valuation markdown ahead of IPO as it divests key revenue generator

VCCircle

VCCircle · 1y ago

BlackBuck gets a valuation markdown ahead of IPO as it divests key revenue generator

Indian logistics startup BlackBuck has received a valuation markdown ahead of its upcoming IPO. The company, which reached unicorn status in 2021, has divested a key revenue generating division. BlackBuck is set to go public amidst intense competition in the rapidly growing Indian market.

Swiggy gets a valuation mark-up from an investor ahead of IPO

VCCircle

VCCircle · 10m ago

Swiggy gets a valuation mark-up from an investor ahead of IPO

Food delivery and essentials aggregator, Swiggy, is expecting to raise $1.4 billion in its upcoming IPO. Ahead of this, one of its existing investors has marked up the company's valuation. Swiggy is aiming for one of the biggest new-age IPOs and is looking to secure a significant amount of funding in the process.

IPO-bound Infra.Market raises fresh capital after mopping up over $120 mn

VCCircle

VCCircle · 3m ago

IPO-bound Infra.Market raises fresh capital after mopping up over $120 mn

Building materials platform Infra.Market has secured fresh equity capital ahead of its planned IPO, following a pre-IPO funding round that valued the company at $2.8 billion. The Mumbai-based company, operated by Hella Infra Market Ltd, managed to raise over $120 million.

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