New Delhi: Ani Technology Getting Bengaluru, the Parent of Ride-Hailon App, Ola, is set to collect $ 500 million from Temasek Investors and Plum Wood Investment, Affiliate Global Private Equity Fund, Warburg Pincus, ahead of the initial public proposed.
Offer (IPO).
Bhavish aggarwal, founder in Ola also, participated in the funding round because he wanted to strengthen his involvement in managing ANI’s management and influenced the affairs of the company to ensure that the operational / strategic decision making was in line with his vision, showing the Indian Document Competition Commission (CCI) that had been reviewed toI , The development came at the time Ola’s operation had taken a big hit because of the Pandemic Covid-19 which resulted in the cost of cutting the company and putting around 1,400 employees from several verticals.
US Vanguard Group investment company, minority shareholders in Ola, recently marked Ola’s assessment to around $ 3 billion from around $ 6 billion in 2019.
However, plans for personal EV-Mobility of the organization remained in the launch of its women’s electricity launch.
The scooter will take place soon.
“During the last 12 months we have made our trip praise the business stronger, resilient and efficient,” said Bhavish Aggarwal, Chair and CEO of the Group in Ola.
“With strong recovery after locking and shifting in consumer preferences far from public transportation, we are well positioned to take advantage of the various needs of urban mobility of our customers.” Fresh funds will be used to improve the Uber rival taxi business.
Wood Plum, a new investor, will get minority share ownership in Ola, while the parent company, Fort Canning will participate in the round, too, shows CCI documents.
Other major shareholders in Ola are Softbank and Tencent China.
The current round will take the total funds raised by Ola to around $ 4 billion.
Ola last collected $ 300 million in 2019 in the round led by the Hyundai and Kia Motors car makers.