Live
Ola said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola.
- Power Grid Wins ₹199.55 Crore Pune West Transmission Project
- Omaxe Partners Lemon Tree for 10 Hotels Worth ₹4,000 Crore
- Kevin Warsh Avoids Rate Signals, Highlights AI’s Potential at IMF Meeting
- Modison Q2 Profit Doubles to Rs 23.3 Crore on Higher Sales
- Tesla Unveils Roadster With SpaceX Thrusters, Demonstrates Mid-Air Stunts
The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, media reported.
Ola said the proposed loan issuance received a staggering response from investors with interest and commitment of approximately $1.5 billion. A term loan provides borrowers with a lump sum of cash upfront for specific borrowing terms. Term loans are commonly granted to small businesses that need cash to purchase equipment, a new building for their production processes, or other fixed assets, media reported.
- Power Grid Wins ₹199.55 Crore Pune West Transmission Project
- Omaxe Partners Lemon Tree for 10 Hotels Worth ₹4,000 Crore
- Kevin Warsh Avoids Rate Signals, Highlights AI’s Potential at IMF Meeting
- Modison Q2 Profit Doubles to Rs 23.3 Crore on Higher Sales
- Tesla Unveils Roadster With SpaceX Thrusters, Demonstrates Mid-Air Stunts
Ola said it is one of the first Indian startups to be publicly rated by Moody’s and S&P, two leading international rating agencies. S&P and Moody’s rated Ola’s first-lien term loan as B- and B3 respectively, with a ‘stable’ outlook, on the back of solid unit economics and profitability in its market-leading Indian ride-hailing business.
