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Ola To Launch Its IPO Issue In Less Than 2 Years
If sources are to be believed, cab aggregator firm after reaching its profitability targets required to come up with an IPO issue, has shown its interest to come up with a public issue in less than 2 years time.
As per the SEBI's mandate, companies before launching their IPO have to be profitable for at least 3 years. The company has however not filed its financials for the FY 2019 with the MCA.
As per the ANI Technolgies, operator of Ola, filing with the MCA, the newest investor in the firm ARK Impact Asset Management has established a pre-IPO trust fund.
And the IPO by the cab hailing firm will enable the company's prime investors that include Softbank to offload a partial stake in the firm and return funds to the company's shareholders.
"Most of the differences on the IPO listing arose between SoftBank, a new incoming Japanese investor, and Mirae Asset Fund, an existing investor... and hence Mirae has got in ARK as a co-investor in the current round... Another investor, Hyundai, also Korea-based, is pushing for an Ola IPO," said the person as quoted in a leading business daily.
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