Ola IPO Details

Ola, the ride-hailing company announced its interest to go public in December 2021. It is believed that the IPO will raise between $1 and $2 billion.

Japan’s SoftBank Group backs Ola, and Bhavish Aggarwal is the company’s chief executive officer. According to reports, Ola is in advanced talks with Citigroup, Morgan Stanley, and Kotak Mahindra Capital to become the lead manager of its potential IPO.

Ola IPO date and Ola IPO price are yet to be announced.

About Ani Technologies Private Ltd (Ola)

Ola is India’s largest mobility platform and was formed in 2010. With operations in more than 250 locations around the UK, New Zealand, and India, it is among the largest ride-hailing companies in the world.

Ankit Bhati and Bhavish Aggarwal founded Ola, and its headquarters are in Bangalore.

The well-known Ola app promotes mobility services by providing a range of vehicles, including cabs, metered taxis, auto-rickshaws, and motorcycles.

The Ola platform gives a comfortable experience to the driver-partners and riders while ensuring a reliable back-end system using data sciences and engineering. Ola now intends to issue its IPO to scale new heights.

Why must you invest in Ola IPO?

  • The company plans to develop a “super app” with aspirations to cover micro-insurance and personal finance in addition to mobility.
  • It has entered into the electric vehicle arm, i.e., Ola Electric.
  • It has bought Ridlr, one of the nation’s top ticketing and commuter transportation apps.
  • Additionally, it has invested in Vogo, a company that rents out keyless scooters and bikes around Hyderabad and Bangalore.
  • Through Ola Financial Services, it also expands its consumer products, including credit-led payments and micro-insurance.

How to Apply for Ola IPO?

To apply for the Ola IPO, one must have a Demat and a trading account.

Once the investor has both accounts, they can follow the below steps:

  1. Select IPOs after signing in to your trading account.
  2. From the list of active IPOs, select the Ola IPO.
  3. Specify the number of lots and the price you are interested in.
  4. Type in your UPI ID and press "Submit".
  5. You will receive a notification mandating money blocking in your UPI app.
  6. Accept the mandate request, and the funds will be blocked.

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Frequently Asked Questions (FAQs)

Despite a revenue decrease of 65% to Rs. 689.61 crores because of Covid-19-induced lockdowns, Ola has announced its first operating profit of Rs. 89.82 crores for 2020–21.

Yes, Warburg Pincus, Temasek Holdings, and two other investors, through a Term Loan B invested $500 million in Ola in Dec 2021.

Ola declared a revenue decrease of 65% to Rs. 689.61 crores because of Covid-19-induced lockdowns in FY21.

Yes, Ola, a key player in the mobility industry, has raised $139 million from investors, including Edelweiss and others, valued at approximately $7.3 billion. Other investors include Alka DP Family Trust, Atul DP Family Trust, Vicco Laboratories, Tejal Mercantile, Hero Enterprise, IIFL, and Siddhant Partners.

Krishnagiri, Tamil Nadu, is the headquarters of Ola Future Factory.

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*IPO Financing is done through Bajaj Finance Limited. Bajaj Finance Limited (BFL or Lender) reserves the sole right to decide participation in any IPO and financing to the client shall be subject to credit assessment done by the lender. Also, BFL shall have full rights to decide the commercial terms for IPO and final application and financing shall be subject to all requirements being met by the client in a timely manner including documentation, account setup and payment of required Interest and Margin. Bajaj Finance Limited also reserves the exclusive rights to change any of the above-mentioned terms and conditions without prior notice to clients. UPI is mandatory to bid in all IPOs through our platform. As per exchange guidelines, all the UPI mandates will only be accepted till 5:00 PM on IPO closure day.

Data Source - DRHP

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