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Ola taxi drivers talk to each other while waiting for passengers at the side of a road in Amritsar.
NARINDER NANU | AFP | Getty Images
Indian rideshare company Ola plans to raise up to $ 1 billion through an initial public offering, a source familiar with the matter told CNBC.
News of the IPO was previously reported by Bloomberg and Reuters. Both organizations cited anonymous sources.
Ola declined to comment for this report.
Reuters said Ola was finalizing banks that will advise on her fundraising and allegedly hired Citigroup, Kotak Mahindra and Morgan Stanley.
Group chairman and CEO Bhavish Aggarwal told CNBC this month the company plans to go public next year and a final date has not been decided.
The SoftBank-backed startup is one of a growing list of Indian tech startups considering going public.
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