Ola is expected to go live in Q1 2022 with the initial public offering (IPO) list. The IPO is said to follow Nykaa’s great debut and Paytm’s disappointing debut in the Indian market.
According to a new report by 91 Mobile Through Tipster Yogesh Brar, Ola intends to launch its IPO in Q1 2022 The company is reportedly feeling quite confident about the IPO, following the launch of its Ola S1 and S1 Pro electric scooters, and announcing its first operating. Profit for the year ending March 2021.
With that in mind, the company was founded in 2010 by Bhavish Agarwal as a ride-hailing app to compete with Uber. It has recently expanded into car leasing and electric scooters to help diversify its business portfolio.
The report further states that the company intends to raise up to $ 1 billion through IPO.
Prior to the IPO, the company has already launched its first generation electric scooter in India and will soon start delivery for it. The company is rumored to be working on a more affordable electric scooter, which will lower the Ola S1, which is priced between Rs 70,000 and Rs 80,000.
Ola electric scooter is being delayed
Although Ola has already begun a test drive of its first electric scooters, the company has again delayed delivery. It emailed early buyers that delivery would be delayed due to a global chip shortage. According to 91 Mobile According to the report, the real reason behind the delay is that Ola has faced problems with the state’s clearance.
New business path
In addition to her ongoing business ventures, Ola is apparently looking to enter the insurance and credit sectors. While not much is known about the new vertical integration, it could be unveiled next month to bolster the company’s position ahead of the IPO.
The post Ola plans to launch IPO early next year: Details first published here in BGR India.