- Hindi News
- Ola IPO Plans 2021; Ola Raised Rs 3,730 Crore From Private Equity Firms Temasek And Warburg Pincus
Mumbai40 minutes ago
- copy link
Corona has broken the back of the biggest companies. In such a situation, companies are forced to raise money from the market. Now app-based taxi service company Ola has also joined this race. The company has raised Rs 3,730 crore from private equity firms such as Temsek and Warburg Pincus before the initial public offering (IPO). However, the company has not made its information public.
Company’s Chairman and Group CEO Bhavish Aggarwal said that we have strengthened the staggering business in the last 12 months. Strong recovery and public transportation after the lockdown has seen a change in consumer preferences. In such a situation, the company will invest in urban areas based on the needs of the customers.
Domestic startups race to launch IPO
The company’s business suffered heavy losses due to the spread of corona infection in the country and it has also reduced the valuation. During the pandemic, many online startups of the country are working fast to raise funds by bringing their public offers. As a result, online food delivery company Zomato’s IPO will open from July 14 and companies like Policybazaar, Paytm and Nykaa are set to file DRHP with SEBI this week.
Foreign companies are increasing investment in the country
Many new investors like Temsek and Warburg Pincus are increasing their stake in startups in the country. US private equity firm Warburg Pincus earlier this year invested in audio appliances brand Boat. Singapore government-owned Temasek has bought a stake in education firm Upgrade and delivery startup Lycius.