Vanguard slashes Ola Consumer valuation 99% to $70M ahead of IPO
Vanguard cut its Ola Consumer stake to a $728,000 carrying value, implying a $70.3M valuation versus $51.7M invested in 2015. The markdown lands as Ola preps an IPO with FY25 revenue down 42% to ₹1,171 crore and net loss of ₹662 crore amid Uber and Rapido pressure.
What happened
Vanguard marked down its Ola Consumer stake to imply a $70 million valuation, a 99% cut from 2015 entry. The markdown precedes Ola's planned IPO, amid declining
Key facts
- $70.3 million implied valuation
- $728,000 carrying value
- $51.7 million invested in 2015
- 99% drop from entry valuation
- FY25 revenue ₹1,171 crore (-42%)
- FY25 net loss ₹662 crore
Why this matters
Ola's distressed valuation reset opens a window to evaluate partnership, acqui-hire, or asset-pickup scenarios in Indian mobility before the IPO either resets the floor or forces further restructuring.