The new funding comes at a time when Ola's transportation business has been badly hit by the pandemic
IPO-bound mobility platform Ola has raised about $139 million from a few investors including IIFL, Edelweiss, and Sunil Munjal-led Hero Enterprise, showing regulatory documents sourced from business intelligence platform Tofler. Bhavish Aggarwal-led Ola has been valued at about $7.3 billion.
Ola has allocated 4,63,471 Series J1 Compulsorily Convertible Preference Shares (CCPS) at a premium price of Rs 22,625 per share, as per the filings. It may be pre-IPO financing round, according to the analysts, as the firm is preparing to file its draft IPO documents.
Hero Enterprise has invested about Rs 112 crore. Edelweiss has invested about Rs 250 crore. IIFL has invested about Rs 187 crore. Media platform Inc42 first reported this development.
Ola has also allotted shares worth Rs 100 crore to former Zandu promoters Parikh family and Siddhant Partners. Ola has also allotted shares worth Rs 50 crore to Biovet, an animal health vaccine maker. Vicco Group has been allotted shares worth Rs 10 crore. Also shares worth Rs 13 crore have been allotted to Famy Care Group's Ashutosh Taparia and Sanjeev Taparia.
The filing also showed that the SoftBank-backed firm paid Rs 26 crore to acquire geospatial services provider GeoSpoc. In October this year, Ola said it has acquired Pune-based GeoSpoc, a leading provider of geospatial services. GeoSpoc co-founder Dhruva Rajan and his team of Geospatial scientists and engineers had joined Ola to develop technologies that will make mobility universally accessible, sustainable, personalised, and convenient, across shared and personal vehicles
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