Ola IPO to hit the street early 2022

  • Ride-hailing aggregator Ola is exploring a public offer early next year, aiming to raise at least $1.5-2 billion, valuing the Bengaluru-based unicorn at $12-14 billion.
  • The proposed listing of Ola, which counts SoftBank, Tiger Global Management and Tencent as some of its key investors, will raise half the capital through a primary issuance while the rest will be through an offer for sale from some early backers, people with knowledge of the matter told ET. Investment banks including Morgan Stanley, Goldman Sachs, Kotak Mahindra Capital, Citigroup and JP Morgan are understood to be working with the company on filing preliminary documents with the market regulator in the next two months.
  • Ola has chosen three banks – Kotak Investment Banking, Citigroup and Morgan Stanley – to manage its $1-billion IPO. PhonePe has received an insurance broking licence from the industry regulator.


HolidayIQ secures nearly $5 million from Tiger Global & Accel Partners

HolidayIQHolidayIQ, the online travel and holiday information company based in Bangalore, has raised about Rs 26- Rs 30 cr from Tiger Global Management and Accel Partners, according to a new report. This is the third round of funding for the company which has de-merged from Singapore based travel search firm Wego, The Economic Times reported.

In 2010, HolidayIQ had merged with Wego, a travel meta-search startup based in Singapore. The combined entity had raised series B funding from Tiger Global, the New York based growth capital fund.

Accel Partners first invested in the company in 2006. HolidayIQ is not into ecommerce yet.

As the leisure travel industry grows, there has been lot of action in the sector. Last week, New Delhi based travel package site TravelMasti was acquired by Via. The company had raised funds from BCCL in 2007.

While a recent supreme court order which banned airline transaction fee will erode the margins of online travel agents, the industry as such is growing. Players like MakeMyTrip and Yatra have started diversifying into non flight business to decrease their dependency on flight business. Two months ago, Makemytrip acquired Thailands’ ITC group for $3.2 million and before that, it acquired the Hotel Travel Group for $25 million.


Exclusive: Travelmasti acquired by Via

New Delhi based travel package site, TravelMasti has been acquired by Via.travelmasti

The company which earlier raised funding from BCCL in 2007 is present (offline) in Dehradun, Rajkot, Jamnagar,Surat cities through its Travelmasti Lounge Network.

The online travel industry has been facing heat owing to lower margin and the recent court ruling banning airline transaction fee is going to erode the margins further.

And that’s why companies like MakeMyTrip and Yatra started diversifying into non-flight business (i.e. hotels/car bookings etc) in order to decrease their dependency on flight business.

Makemytrip recently acquired Thailand’s ITC group for $3.2 million and prior to that, acquired Hotel Travel Group for $25million.

For Via, TravelMasti acquisition provides the much needed depth in holiday package business.

More details as we get them.