Key Points
A fund operated by US investment major Vanguard has marked down the fair value of ride-hailing platform Olas parent ANI Technologies to $1.88 billion as of November 30..
The latest fair value of $1.88 billion ascribed by Vanguard is 74% lower than the last valuation at which the company raised money...
The previous valuation revision by Vanguard of its shareholding in ANI Technologies had slashed the companys fair value by 24% from $3.5 billion, which was the value as of May 31 last year...
The companys associate firm Ola Electric, which makes and sells electric scooters, is set for an initial public offering (IPO), and has filed its draft red herring prospectus..
ANI Technologies holds 4.35% stake in Ola Electric, which is aiming for an IPO valuation of $7-8 billion...
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