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Softbank-backed ride-sharing company Ola readies for up to US$1 billion India IPO -sources

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NEW DELHI/HONG KONG : Indian ride-sharing giant Ola plans to raise up to US$1 billion through an initial public offering (IPO) and is finalising banks to advise on the fund-raise, three sources told Reuters, becoming the latest startup to join the capital markets boom. Ola, backed by Japan's Softbank Grou

NEW DELHI/HONG KONG : Indian ride-sharing giant Ola plans to raise up to US$1 billion through an initial public offering and is finalising banks to advise on the fund-raise, three sources told Reuters, becoming the latest startup to join the capital markets boom.

The company, which competes with Uber Technologies, is also in talks with Bank of America and JP Morgan, one of the people said.Bank of America, Citi and Morgan Stanley declined to comment.

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