Ola Raises Half a Billion Dollars in Debt to Fuel Her Dream of Food Delivery and Fast Trade


  • Ola raised $ 500 million in debt from undisclosed institutional investors.
  • Funding was raised through the B Term Loan (TLB).
  • Ola also raised $ 500 million in July as part of its pre-IPO round.

Running company Ola has raised $ 500 million in debt from undisclosed institutional investors as the company prepares to make an initial public offering (IPO) next year.

Funding was raised through the B-Term Loan (TLB) route, the company said in a statement.

TBL is a term loan made by institutional investors whose main objectives are to maximize the long-term total return on their investments.

The company, in its press briefing, also said it would use the term loan to expand its business – including ridesharing, vehicle trading, food delivery, fast trading and financial services.

Ola runs food brands like Khichdi Experiment, The Biryani Experiment, The Paratha Experiment and The Daily Dinner. It also entered fast grocery delivery services earlier this month with the launch of Ola stores.

“The massive response to our B Term Loan is a reflection of the strength of our business and our continued focus on improving the unit economy alongside rapid growth. At Ola, we are accelerating our journey towards building the new mobility ecosystem to help one billion people move sustainably, ”said Bhavish Aggarwal, Founder and CEO of ANI Technologies, in a press briefing . ANI Technologies is Ola’s parent company.

JP Morgan and Deutsche Bank were the main co-arrangers of this financing.

The development comes just months after Ola raised $ 500 million in July from Temasek and Warburg Pincus in a pre-IPO round. The company is said to be valued at around $ 8 billion.

On top of that, Ola’s sister company, Ola Electric, which manufactures and sells electric scooters, raised $ 100 million in debt and an additional $ 200 million in equity in October. The company, which is also part of ANI Technologies, is valued at $ 3 billion.

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