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BENGALURU (Reuters) – Indian ride-hailing firm Ola mentioned on Thursday it had raised $500 milllion mortgage from worldwide institutional traders, because the SoftBank Group backed start-up preps to make its inventory market debut subsequent yr.
Ola, which has a majority share of India’s ride-hailing market the place it competes with Uber Applied sciences, has plans to lift as much as $1 billion by means of an preliminary public providing.
Earlier this month, Ola Chief Govt Officer Bhavish Aggarwal mentioned the corporate deliberate to go public within the first half of 2022.
The proposed mortgage issuance received a staggering response from traders with curiosity and dedication of about $1.5 billion, the Bengaluru-based firm mentioned.
Aggarwal additionally plans to record Ola’s separate electrical car enterprise sooner or later – a section it has guess closely on …
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