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What Ola’s Debt Funding Says About Its Business
Moody’s expects Ola's annual cash burn rate to double from $73 million as of March to $140 million at least in the next two years.
20 Dec 2021, 08:03 AM IST
Ola, which dominates more than half of India’s ride-hailing market, is shoring up cash but may burn it at twice the pace in the next couple of years, according to Moody’s Investors Service.ANI Technologies Pvt., the parent of the mobility platform backed by SoftBank and Tiger Global, raised $500 million (about Rs 3,806 crore) in term loan B from marquee international institutional investors, according to its Dec. 16 statement. That w...
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