Vanguard cuts Ola’s valuation to $1.8 billion

Asset management company Vanguard has marked down the fair value of Ola’s parent ANI Technologies by 29% to $1.88 billion. Regulatory filings reveal the markdown comes nearly two months after Vanguard pruned the fair value of the ride-hailing platform to approximately $2.65 billion. Vanguard holds 166,185 shares of ANI Technologies, translating into a stake of around 0.7 %, according to Tracxn.

Vanguard had lowered the fair value of its stake in ANI Technologies by 35% to $4.8 billion in February last year, followed by another 52% reduction to $3.5 billion in July. The Bhavish Agarwal-promoted ANI Technologies was valued at $7.3 billion when it raised $139 million from IIFL, Edelweiss PE and other investors in December 2021.