Shares of Ola, OYO Rooms and Paytm are currently priced at Rs 27,500, Rs 75,000 and Rs 17,000 respectively in the unlisted space, as per Abhishek Securities, a firm dealing in unlisted shares. This is so even as the companies have been incurring losses and neither do they have any tangible assets (land, plant or warehouse). Yet, these companies continue to command sky-high valuations in the unlisted market. Until listed, the fair value of a stock is very subjective.
Ola Electric Mobility Pvt. Ltd has raised about $250 million from SoftBank Group Corp., thus becoming the second company founded by Bhavish Aggarwal to join the unicorn club of startups valued at more than $1 billion. Ola Electric raised the funds as part of its Series B round. The company is running several pilots to test electric vehicles and charging infrastructure for batteries. The Indian electric car market size was valued at $71.1 million in 2017.