Ola SoftBank-backed plans to file papers for approval with the country's market regulator within three months, said the sources, who declined to be named as the matter is confidential. Ola declined to comment.
The company is in talks with investment banks, including Goldman Sachs, Bank of America, Citi, Kotak and Axis, and plans to appoint IPO advisers within a month, said two of the sources.
Citi and Bank of America declined to comment, while the others did not respond to requests for comment. This is Ola's second attempt at an IPO, after a 2021 plan to raise up to $1 billion was canned.
This story is from the April 20, 2024 edition of Business Standard.
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This story is from the April 20, 2024 edition of Business Standard.
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