Even as Uber's arch-rival and SoftBank-backed Ola is raising $352 million as part of its Series J round of funding from Hyundai and Kia Motors, the proposed round would see Ola's valuation reach $6.2 billion-mark,\u00a0showed regulatory filings sourced by business signals platform Paper.vc. The round would see the issuance of 1162259 Series J cumulative compulsorily convertible preference shares at Rs 21,250 price per share. Ola's Series J round began with $111 million it raised in January this year at a valuation of $5.7 billion, the documents showed. For its new round, the company has also proposed to increase its authorised share capital from Rs 5,590 crore to Rs 5,592 crore to enhance issuance of Series J shares from 368,694 to 15,30,953 of Rs 10 face value each. Following the round, the holding of top shareholders at Ola will also change including SoftBank's 25.20 per cent stake in Ola will be down to 23.37 per cent and Tiger Global's share will be cut from 12.90 per cent to 11.97 per cent. Ola's founder Bhavish Aggarwal's share would increase from 6.90 per cent to 7.48 per cent even as Ankit Bhati's stake would be up to 3.40 per cent from 3.14 per cent. Among its over a dozen new investors who have invested this year includes Sachin Bansal, Steadview Capital who would have 0.34 per cent and 2.40 per cent stake in Ola respectively following the new round. The company has, in fact, brought 12 investors including proposed Hyundai and Kia Motors on the cap table since January this year - all at a common price of Rs 21,250 per share Ola's biggest investors apart from SoftBank's subsidiary SIMI Pacific and Tiger Global in order of their shareholding in the company includes Copper Technology (9.30 per cent), Matrix Partners India (7.66 per cent), Hyundai\/Kia Motors (5.66 per cent), FO Mauritius (3.25 per cent), DST Asia IV (2.61 per cent), Steadview Capital, and Internet Fund III (2.29 per cent). Ola had cut its consolidated losses by more than half to Rs 2,842.2 crore in FY2018 from Rs 4,897.8 crore in FY17, PTI reported while its consolidated revenue shot up 60.9 per cent to Rs 2,222.6 crore in Fy18 from Rs 1,380.7 crore in the preceding fiscal.