Ola, one of the biggest cab aggregators of the county is now preparing for an Initial Public Offering (IPO), company’s CFO told to ET.
Ola appointed Rajiv Bansal from Infosys as its new Chief Financial Officer in January this year.
With no proper timeline mentioned, Rajiv Bansal said, “OLA will have world class processes in 6-8 months and we want to be ready for an IPO as early as possible.”
“If we execute this properly we can be financially prepared for an IPO. If we execute well we can become Infosys,” he further added.
Ola, run by ANI Technologies Pvt Ltd has so far raised $1.8 billion in equity funding from investors like Tiger Global, SoftBank, Didi Kuaidi, DST Global, and Sequoia Capital among many others.
In addition to the taxi services, the company has also expanded its portfolio to launch its payment wallet Ola Money, hyperlocal grocery service Ola Store (which is reportedly shutting down) and food delivery service Ola Cafe.
Mr. Bansal termed initiatives like Ola Cafe and Ola Store as “experiments”, while the cab aggregation and wallet business will be critical.
The company currently has over 275,000 cabs and 75,000 auto-rickshaws on its platform across 102 cities in India.
