TechCrunch
Vanguard slashes Ola valuation by 60%-plus; NB reduces Pharmeasy’s by over 90%
The U.S. index fund pioneer Vanguard has cut the worth of its holding in the Indian ride-hailing startup Ola by nearly two thirds since original investment, and Neuberger Berman has slashed the worth of its Pharmeasy shares by more than 90%, according to an analysis of the funds’ filings. Vanguard cut the worth of its shares in Ani Technologies, Ola’s holding firm, by 63.7% at August closure, it disclosed in its annual report. The asset manager marked down the holding of its Ola shares to $18.75 million, from the $51.7 million purchase price years ago, the filings showed.