Home ›› 03 Dec 2021 ›› Stock
Indian ride-hailing company Ola plans to go public in the first half of 2022, Chief Executive Officer Bhavish Aggarwal said on Thursday, undeterred by the recent volatility and lackluster listing of some start-ups in the country.
Ola, backed by Japan’s SoftBank Group (9984.T), is also gearing up to create something of a “super app” with plans to broaden its services beyond mobility to include personal finance and micro insurance, Aggarwal told the Reuters Next conference.
“We are not a company that takes a short-term view on anything. Short-term, there might be volatilities in the market but that has never informed our decisions,” said Aggarwal, who founded the company in 2010. Indian companies have raised a staggering $9.7 billion through initial public offerings (IPOs) in the first nine months of 2021, according to accountants EY, but the dismal stock market debut of Indian digital payments firm Paytm (PAYT.NS) last month has caused worries among some bankers.
