Ahead of IPO, Ola’s COO and CFO to exit the company
Last Updated on December 29, 2022 by Admin
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SoftBank-backed Indian ride-hailing firm Ola’s Chief Financial Officer Swayam Saurabh and Chief Operating Officer Gaurav Porwal are leaving the company, according to an internal memo seen by Reuters.
The departures come at a time when there have been reports on Ola’s plans to raise up to $1 billion through an initial public offering in the next few months.
The company did not immediately respond to a Reuters request for comment.
The ride-hailing startup has selected banks including Citigroup Inc. and Kotak Mahindra Bank Ltd. to manage its Mumbai initial public offering that could raise about $1 billion, Bloomberg reported in August.
Details of Ola’s IPO including size and timeline could still change as deliberations are ongoing, the people said. More banks could be added later, they said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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