The Ola Electric IPO will include an issue of fresh stock with CEO Bhavish Aggarwal and SoftBank selling up to 47.4 million and 23.9 million shares respectively.
The company attributes this push in sales to the growth that came in during the festival season. Ola Electric recorded 4x growth in its sales during Navratri festivities. It reported the sale of one scooter every minute during this period.