IPO-Bound Ola Raises $500Mn From Temasek, Warburg Pincus
India, July 9 -- Bengaluru-based mobility platform Ola said that Singapore government's investment fund Temasek and Plum Wood Investment Ltd, an affiliate of Warburg Pincus, a global private equity fund focused on growth investing, are partnering with Ola founder Bhavish Aggarwal for a $500 Mn investment ahead of Ola's IPO.
This is amongst the largest investments in the Indian consumer internet space by these funds. According to an Entrackr report , two separate applications to invest in the company were filed at the Competition Commission of India by Warburg Pincus' Plum Wood, Temasek's MacRitchie, Fort Canning and Ola's founder Bhavish Aggarwal.
Ola had announced its IPO ambitions last year. Founded by Bhavish Aggarwal and Ankit Bhati...
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