Vanguard slashes Ola valuation by 29% to below $2 billion

A fund operated by US investment major Vanguard has marked down the fair value of ride-hailing platform Ola’s parent ANI Technologies to $1.88 billion as of November 30. This is 29% lower than its previous fair value of $2.65 billion as of August 31, as per regulatory filings with the US Securities and Exchange Commission (SEC).
The latest fair value of $1.88 billion ascribed by Vanguard is 74% lower than the last valuation at which the company raised money.