Vanguard slashes Ola Consumer valuation 99% to $70M ahead of IPO
Vanguard cut its Ola Consumer stake to a $728,000 carrying value, implying a $70.3M valuation versus $51.7M invested in 2015. The markdown lands as Ola preps an IPO with FY25 revenue down 42% to ₹1,171 crore and net loss of ₹662 crore amid Uber and Rapido pressure.
Vanguard marked down its Ola Consumer stake to imply a $70 million valuation, a 99% cut from 2015 entry. The markdown precedes Ola's planned IPO, amid declining revenue, widening losses, and rising competition from Uber and Rapido.