New Delhi: Startup list that approaches the capital market for increasing funds is increasing because the new peak scale market and appetite investors remain high.
Bhavish Aggarwal-Ledola is looking at public float of up to $ 2 billion and is considering the company supported by Softbank in India and also abroad.
Resources told TOI that “work has begun in the front of the IPO (public offer) which may be between $ 1.5 billion and size of $ 2 billion”.
Bankers are being resolved for possible problems regarding the market later this year or early 2022, one source said.
The design of the prospectus can be submitted with market regulators in the fourth quarter of 2021.
The final assessment where Ola wants to raise funds has not been decided.
In March, Ola’s assessment had dropped by around $ 3.3 billion, perhaps due to the impact on the company’s business due to pandemics and other factors, according to media reports.
Bloomberg quotes sources saying that companies can search for more than $ 8 billion in IPOs.
A spokesman Ola refused to comment on developments.
Bankers who in talks with companies include Citibank, JP Morgan, Mahindra and Morgan Stanley boxes.
Some startups – from Paytm and Mobikwik to Policybazaar – are looking at IPOs to raise funds and also provide a way out to several investors when the market is flush with easy monetary policy.
Recently, Zomato raised Rs 9,375 Crore through the Blockbuster IPO.
Ola last raised $ 500 million from the Temasek private equity company and Warburg Pincus in July.
Total fundraising until now is around $ 4 billion, and investors in the company include Softbank, Global Tigers and Steadview Capital, and some of them will find partial out through the IPO.
Ola was included in December 2010 by Bhavish Aggarwal and Ankit Bhati and dominated the Indian taxi taxi market along with American Uber.
Agggarwal recently said that with vaccination drive takes and opened the office, the request will return.
“With strong postlockdown recovery and shifting consumer preferences from public transportation, we are well positioned to take advantage of the various needs of urban mobility of our customers.”