Zomato IPO: Company raises over Rs 4,196 crore from anchor investors
The IPO comprises a fresh issue of equity shares worth Rs 9,000 crore and an offer for sale (OFS) worth Rs 375 crore by existing investor Info Edge.
Ola on Friday said that the Singapore government’s investment fund Temasek Holdings and private equity major Warburg Pincus had bought shares worth $500 million in Ola, as the ride-hailing platform plans an IPO.
According to the company, this is among the largest investments in the Indian consumer internet space by these funds.
“Over the last 12 months, we’ve made our ride-hailing business more robust, resilient and efficient. With strong recovery post lockdown and a shift in consumer preference away from public transportation, we are well-positioned to capitalize on the various urban mobility needs of our customers,” said Bhavish Aggarwal, Chairman and Group CEO, Ola.
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“I welcome Warburg Pincus and Temasek to Ola and look forward to collaborating with them in our next phase of growth,” Aggarwal added.
Temasek has been an investor in Ola since 2018.
Ola has revolutionised urban mobility by increasing demand for over a billion people across three continents.
Ola now manufactures advanced electric vehicles at its Futurefactory, the world’s largest and sustainable two-wheeler factory.
“Warburg is excited to partner with Bhavish and Ola. They are the leading mobility platform and one of biggest consumer internet platforms in India with a robust and fast-growing business,” said Vishal Mahadevia, Managing Director and Head of India at Warburg Pincus.
Early investors like New York-based Tiger Global and venture capital fund Matrix Partners India hold 13-15% in the ride-hailing firm and have sold shares in the latest funding round.
Details of how much both the investors have sold were not immediately known.
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