Ola, which has a majority share of India's ride-hailing
market where it competes with Uber, has plans to raise up to $1 billion through
an initial public offering.
Earlier this month, Ola Chief Executive Officer Bhavish
Aggarwal said the company planned to go public in the first half of 2022.
The proposed loan issuance got a staggering response from
investors with interest and commitment of about $1.5 billion, the
Bengaluru-based company said.
Aggarwal also plans to list Ola's separate electric vehicle
business in the future - a segment it has bet heavily on - and is currently
building it out starting with electric scooters. Ola began deliveries of its
electric scooters on Dec. 15. © Reuters
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