The Indian entrepreneurship success story will soon see one more company debuting on the public markets.
Ola Electric, the electric vehicle (EV) company, has become the first such firm that has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for its initial public offering (IPO).
This is a fresh issue of equity shares of up to Rs 5,500 crore and an offer for sale (OFS) of more than 95 million equity shares at a face value of Rs 10.
Ola Electric has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi), becoming the first electric vehicle (EV) startup to go for an IPO.
India Business News: Ola Electric Mobility, led by Bhavish Aggarwal, has filed for an IPO with Sebi, aiming to raise approximately Rs 10,000 crore. This makes Ola Electric
Bhavish Aggarwal, the founder of Ola Electric, is set to sell around 47.4 million shares in the SoftBank Group-backed e-scooter maker. The company is targeting a valuation in the range of $7-8 billion by early 2024.