Vanguard Cuts Ola’s Valuation To $1.88 Bn

NEW DELHI, (IANS) – US-based investment firm Vanguard has the Indian ride-hailing major Ola’s valuation to less than $2 billion.

Vanguard marked down Ola’s parent company ANI Technologies valuation to $1.88 billion (as of November 30, 2023), as per its regulatory filings with the US Securities and Exchange Commission.

This valuation is 29 percent lower than its previous fair value of $2.65 billion (August last year), reports Entrackr.

This is the third consecutive mark-down of Ola’s valuation by Vanguard since February 2023. The asset management company later slashed its holding by another 52 percent to $3.5 billion.

Bhavish Aggarwal-run Ola was valued at $7.3 billion in 2021.