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Vanguard reduces Ola’s estimated value to $1.88 B

Vanguard, a US-based asset management firm, has reduced Ola’s valuation to under $2 billion. Since February 2023, Vanguard has lowered the firm’s valuation three times in a row.

As of November 30, 2023, Vanguard reduced the value of Ola’s parent company, ANI Technologies, to $1.88 billion based on its regulatory filings with the US Securities and Exchange Commission (SEC). Compared to its previous fair value of $2.65 billion as of August of last year, this is 29% less.

The development was first reported by Economic Times.

Vanguard reduced its fair value of its holding in Ola by 35% to $4.8 billion in February of last year, and in its July disclosure, it further reduced its stake by 52% to $3.5 billion.

It is noteworthy that Ola’s 2021 valuation was $7.3 billion.

ANI Technologies, the parent company of Ola, reported a 42% increase in scale to Rs 2,799 crore in FY23 from Rs 1,970 crore in FY22. Additionally, the company was able to reduce its losses from Rs 1,522 crore in FY22 to Rs 772 crore in FY23, a nearly 50% reduction.

The parent company of Ola, ANI Technologies, saw a 42% increase in scale in FY23, going from Rs 1,970 crore to Rs 2,799 crore. In FY23, the company’s losses decreased by almost 50% to Rs 772 crore from Rs 1,522 crore in FY22.

Late-stage startups have recently seen investors reduce their initial investment values. The leading edtech company, Byju’s, saw investor Blackrock reduce its fair value by 95%. Fintech unicorn Pine Labs and e-commerce company Meesho had their valuations recently lowered by Fidelity. However, Invesco marked up Swiggy’s valuation back-to-back.

 

 

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