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.
The proposed Initial Public Offering (IPO) encompasses a fresh equity share release of up to Rs 5,500 crore and an offer for sale (OFS) involving 95,191,195 equity shares at a face value of Rs 10.
WeWork India, Smartworks, Awfis, Table Space and IndiQube - which contribute more than half of the domestic flexible workspace industry - are also looking to add 12 million sq ft in the next financial year even as SoftBank Group-backed startup WeWork filed for US bankruptcy protection earlier this month.