Wave taxi drivers talk to each other while waiting for passengers on the roadside in Amritsar.
NARINDER NANU | AFP | Getty Images
Indian shared travel company Ola plans to raise up to $ 1 billion through an initial public offering, a source familiar with the situation told CNBC.
Bloomberg and Reuters previously reported news of the IPO. Both organizations cited unnamed sources.
Ola declined to comment on this report.
Reuters said Ola is finalizing the banks that will advise on its fundraising and that it was reportedly chained to Citigroup, Kotak Mahindra and Morgan Stanley.
The group’s chairman and CEO, Bhavish Aggarwal, told CNBC this month that the company planned to go public next year and that the final date had not been decided.
The start-up with SoftBank support is part of a growing list of Indian technology companies that are planning to go public.