# The board approval comes after S&P Global Ratings and Moody's Investors Service flagged the company’s declining cash position.

*fintech · news · 2026-05-07 · Livemint*

## Key points

- Ola Consumer’s board has approved an IPO, but no public move has yet been made.
- Ola's net worth dropped 57% in FY25, mainly due to operating losses and Ola Electric’s share decline.
- Ola Consumer’s cash and bank balances almost halved to ₹652.8 crore by March 2025 from last year.
- Ola's market share in cab services fell to 20-25% in 2024, down from 40-45% in 2023.
- ANI Tech risks CCPS holders exercising exit rights if IPO deadlines are not met.

**Companies:** Uber, Ola Consumer, Rapido
**Countries:** India

[Read the full story on Livemint](https://www.livemint.com/companies/news/ola-ipo-preparations-cash-crisis-uber-rapido-bhavish-aggarwal-11778070931254.html)

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