Ola looks at revised USD 4.5 billion valuation to go public: Report
The company was valued at USD 5.4 billion in its latest funding round in September where Temasek was the lead investor. One source noted that this would come down citing a 'recalibration' of tech stocks' valuation globally.
Ola could lower its valuation by 16-20% to roughly USD 4.5 billion, as compared to its earlier funding round, as the Softbank-backed firm looks to go public, Reuters reported citing two persons in the know.
SEBI approved electric two wheeler Ola's USD 660 million stock market listing, making it the first EV firm to list, in what is also slated to be amongst India's
biggest share sales this year, Reuters noted.
The company is set to take to the Indian bourses early next month, the two persons in the know told the newswire, who spoke on condition of anonymity. Reuters could not get a timely response from the company on this matter.
The company was valued at USD 5.4 billion in its latest funding round in September where Temasek was the lead investor. One source noted that this would come down citing a 'recalibration' of tech stocks' valuation globally.
The second person in the know told the newswire that the valuation was set to be lower as it wanted the listing to be "attractively priced," for investors to make wealth.
India's stock market overtook Hong Kong's earlier this year to become the world's fourth-largest, the newswire further noted.
RELATED ARTICLES
Apollo Tyres To Cease Production At Enschede Plant Amid Rising Costs And Market Shifts
Indian manufacturer plans to wind down the Netherlands operations by summer 2026.
Ather Energy Raises Rs 1,340 Crore from Anchor Investors ahead of IPO
SBI Mutual Fund schemes picked up around 23.1% of the total shares purchased by anchor investors, while Aditya Birla Sun...
Maruti Suzuki to Equip All Cars with Six Airbags This Year, Says Chairman Bhargava
"From a safety point of view, the government was very keen that six airbags should be in all cars. We will implement thi...