Updated News Around the World
Technology

How Ola’s buyout of a group company brought tax pain to Bhavish Aggarwal

By Andrew McCollum

Bhavish Aggarwal, co-founder and CEO, Ola Cabs and Ola Electric

Synopsis

Ola’s 2021 buyout of minority investors of Ola Financial Services brought capital-gains tax pain to Bhavish Aggarwal. Here’s how a nearly INR90 crore tax bill panned out for the founder, whose options got complicated by the delay in the company’s IPO.

Over the last couple of years, an unfulfilled IPO dream, the funding winter and business challenges complicated not only mobility unicorn Ola’s strategic road map, but also its founder Bhavish Aggarwal’s calculations. In the two year-period between early 2020 and early 2022, Aggarwal had taken a number of steps to lay ground work for a public listing. This meant multiple moves. An aggressive push to diversify beyond the core cab hailing was the

BY

  • FONT SIZE

    AbcSmall

    AbcMedium

    AbcLarge

  • SAVE
  • PRINT
  • COMMENT

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Why ?

  • Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors

  • Stock analysis. Market Research. Industry Trends on 4000+ Stocks

  • Clean experience with
    Minimal Ads

  • Comment & Engage with ET Prime community

  • Exclusive invites to Virtual Events with Industry Leaders

  • A trusted team of Journalists & Analysts who can best filter signal from noise

For all the latest Technology News Click Here 

 For the latest news and updates, follow us on Google News. 

Read original article here

Denial of responsibility! NewsUpdate is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Andrew McCollum 109721 posts 0 comments