Ola is planning an initial public offering (IPO) in early 2022 to raise $2 billion, according to reports

Ola IPO in early 2022 to raise $2 billion

Ola IPO in early 2022 to raise $2 billion

New Delhi: As the market reaches new highs and investor appetite stays high, the list of entrepreneurs coming to capital markets to solicit funding is growing.Hailstone is led by Bhavish Aggarwal. The SoftBank-backed company is considering a public float of up to $2 billion and plans to list both in India and internationally.“Work on the IPO (initial public offering) front, which could be in the range of $1.5 billion to $2 billion in size,” insiders told You.

According to a source, bankers are finalising the issue, which is expected to enter the market by the end of this year or early in 2022. By the fourth quarter of 2021, the draught prospectus can be filed with the market regulator.Ola has yet to decide on the ultimate valuation at which it wants to raise cash. According to media sources, Ola's valuation dropped to roughly $3.3 billion in March, potentially as a result of the pandemic's influence on the company's business and other issues.Bloomberg reported that the company may seek an IPO valuation of more than $8 billion, citing sources.

A spokeswoman for Ola declined to comment on the situation. Citibank, JP Morgan, Kotak Mahindra, and Morgan Stanley are among the banks in talks with the company.Several startups, including Paytm and MobiKwik TwoPolicyBazaar - Considering an initial public offering (IPO) to raise funds and allow some investors to depart at a time when the market is overflowing with capital due to monetary policy loosening. Zomato has raised Rs 9,375 crore in a Blockbuster IPO.

Temasek warburg pincus, a private equity group, just invested $500 million in Ola. In the month of July. Softbank, Tiger Global, and Steadview Capital are among the company's investors, and some of them may be seeking for a partial exit through an IPO.Ola, along with American Uber, was founded in December 2010 by Bhavish Agarwal and Ankit Bhati and now dominates the Indian cab-hailing business. With the immunisation campaign intensifying and new offices opening up, Agarwal recently stated that demand is returning. “With a robust post-lockdown recovery and a shift in consumer preference away from public transportation, we are well positioned to capitalise on our customers' various urban mobility needs.”

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