Bengaluru-based mobility unicorn Ola has raised $500 million through a Term Loan B (TLB) from marquee international institutional investors. The company stated that the proposed loan issuance has received a staggering response from investors with interest and commitment of approximately $1.5 billion.
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 utilise 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.
