Vanguard has revised the valuation of Indian ride-hailing company Ola to about US$2 billion.

This adjustment was made according to a regulatory filing by the US asset manager.

Vanguard’s fund now values its shares in ANI Technologies, Ola’s parent company, at US$14.3 million. This is a notable drop from the US$51 million initially invested.

This change reflects a sharp decline from Ola’s previous valuation of US$7.3 billion in late 2021.

This valuation cut follows another adjustment by Vanguard in August 2023, which set Ola’s value at approximately US$2.6 billion.

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