India's Ola Cabs plans $500m IPO, to appoint banks soon

India's Ola Cabs plans $500m IPO, to appoint banks soon

Visual sourced from Ola Cabs website

Indian ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion, three sources with direct knowledge of the matter told Reuters on Friday.