Ola Consumer is gearing up for an IPO, but poor numbers, lack of direction and an uncertain path to profitability make the company a particularly risky bet for investors.
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A more than 50% drop in revenue and twofold increase in net loss, combined with a Rs 1,700 crore debt raise, signal deepening troubles for the EV company.
Last valued at upwards of $2 billion, the beauty and home services business gearing up for an IPO is too small and too susceptible to market challenges. Its draft papers are worth a look.
The decade-old company is reportedly planning to venture into food delivery and fintech. Its no-commission model might just come in handy for its expansion plans.