Ola will raise $500 million fund

Ola is in talks for a $500 million fund-raise. The cab-aggregator wants to tap existing investors China’s Tencent or Russia’s DST Global, which hold 10.5% and 6%, respectively, in the company. Ola isn’t keen on raising the funds from its biggest shareholder SoftBank (26%), as any future investments will take the Japanese conglomerate’s stake to a level where it can influence special resolutions, including mergers and acquisitions. Earlier, SoftBank has offered to pump another $1 billion into Ola to fund its growth in new areas such as food delivery.

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