India’s Ola Cabs plans $500 mln IPO, to appoint banks soon

19 April 2024, 12:00 am

1 min read

FILE PHOTO: Bhavish Aggarwal, CEO and co-founder of Ola, an app-based cab service provider, poses in front of an Ola cab in Mumbai March 3, 2015. REUTERS/Shailesh Andrade/File Photo

Reuters exclusively reported that Indian ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion.