Why will Ola close its shop from abroad, told this plan for India. Why will Ola close its Business from?

Ola has decided to close its business in Britain, Australia and New Zealand.

Ola, a company providing online taxi booking service, has decided to close its business in Britain, Australia and New Zealand. The company will continue to focus on its business in India. Ola’s promoter ANI Technologies said on Tuesday that the company sees a lot of potential for expansion in India. Let us also tell you what information the promoter company of Ola gave about its plan.

The company told its plan

Ola Mobility spokesperson said that our operations are growing rapidly and we are profitably positioned in India and remain a leader in the sector. The future is electric not only in personal transportation but also in the online taxi booking business. Also, there is a lot of opportunity for expansion in India. He said that with this we have re-evaluated our priorities and have decided to close our ride-hailing business (online taxi booking service) in the current form in Britain, Australia and New Zealand. The company started these operations in different phases in 2018.

How are the figures?

According to the information given to the stock market, the integrated net loss of ANI Technologies reduced to Rs 772.25 crore in the financial year 2022-23. The company had a consolidated loss of Rs 1,522.33 crore in the financial year 2021-22. The company’s operating income increased by about 48 percent to Rs 2,481.35 crore in the financial year 2022-23 from Rs 1,679.54 crore a year ago.

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Preparation to launch IPO

On the other hand, Ola is also preparing to launch the IPO of the company soon. Ola Electric has filed draft papers for the IPO, which has a fresh equity issue of Rs 5,500 crore. The company is awaiting regulatory approval and the IPO may hit the market any time in the second half of the financial year.

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Brijesh Pratap
Brijesh Pratap

Hi, I am Brijesh Pratap, a content creator and WordPress website designer, I have been in content writing for more than 3 years. I specialize in creating engaging articles. As a WordPress expert, I design websites for businesses and bloggers, aiming for both visual appeal and impactful content. Join me on this journey of creative exploration and effective online solutions.

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