NEW DELHI: US-based investment firm Vanguard has reportedly slashed down ride-hailing major Ola’s valuation to less than $2 billion. Vanguard marked down Ola’s parent company ANI Technologies valuation to $1.88 billion (as of November 30, 2023), as per its regulatory filings with the US Securities and Exchange Commission (SEC).
This valuation is 29 per cent lower than its previous fair value of $2.65 billion (August last year), reports Entrackr. This is the third consecutive mark-down of Ola’s valuation by Vanguard since February 2023.
In February last year, Vanguard marked down the fair value of its stake in Ola by 35 per cent to $4.8. The asset management company later slashed its holding by another 52 per cent to $3.5 billion.