Ola raises US$500M through Term Loan B

Bengaluru, December 16, 2021: Ola, India’s largest mobility platform, has  successfully raised $500 million via a Term Loan B (TLB) from marquee  international institutional investors. 

The proposed loan issuance received a staggering response from investors  with interest and commitment of approximately US$1.5B. 

Ola is one of the first Indian startups to be publicly rated by Moody’s and S&P,  two of the leading international rating agencies. S&P and Moody’s rated Ola’s  first lien term loan as B- and B3 respectively, with a ‘stable’ outlook, on the  back of strong unit economics and profitability in its market leading Indian  ride hailing business.  

This is a milestone transaction as Ola is among only a few Indian companies  to raise capital through the TLB route. Ola is expected to utilize the term loan  to fuel its vision for the future of mobility across its various businesses  including ride hailing, vehicle commerce, delivery with foods, quick commerce  and financial services.  

Bhavish Aggarwal, Founder & CEO, Ola said “The overwhelming response  to our term loan B is a reflection of the strength of our business and our  continued focus on improving unit economics alongside rapid growth. At Ola,  we are accelerating our journey towards building the New Mobility ecosystem  to help a billion people move sustainably.” 

J.P. Morgan and Deutsche Bank served as the joint lead arrangers for this  financing. 

About Ola: 

Ola is India’s largest mobility platform. Ola revolutionised urban mobility by  making it available on demand for over a billion people across 3 continents.  Today, Ola continues to move the world to sustainable mobility through its  ride hailing platform as well as through advanced electric vehicles  manufactured at its Futurefactory, the largest, most advanced and sustainable  two wheeler factory in the world. Ola also operates its new auto retail platform 

with Ola Cars bringing seamless, digital buying, selling and ownership of  vehicles to consumers. Ola is dedicated to transitioning the world to  sustainable mobility and making the world better than we found it.