Ola Electric secures Sebi approval for INR 5,500 crore IPO

admin admin | 06-20 16:30

It is eyeing a USD 6-billion valuation through the public offering, sources aware of latest plans said.
India’s largest electric two wheeler maker Ola Electric has received market regulator Sebi (Securities and Exchange Board of India) nod for its intial public offering (IPO).

ET had reported on June 11 that the firm had secured the nod from Sebi, as announced internally.

The Bengaluru-based company had filed its draft red herring prospectus (DRHP) with Sebi on December 22, proposing to raise up to INR 5,500 crore through a fresh issue, apart from an offer-for-sale (OFS) component of 95.2 million shares.

It is eyeing a USD 6-billion valuation through the public offering, sources aware of latest plans said.

Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.


ALSO READ

Ola Electric responds to ARAI notice, says prices of S1 X 2 kWh scooter unchanged

Ola Electric provided an invoice dated October 6, showing a INR 5,000 discount given to customers, a...

Hyundai Motor IPO’s off to a slow start

Around 35% of the total shares in the offering are reserved for retail investors, while QIBs and NII...

Under fire, Ola Electric taps EY India to get back on track

Close to a dozen executives from EY came on-board at Ola Electric a few weeks ago on deputation for ...

Tata Motors secures 5-star BNCAP safety ratings for Nexon, Curvv, and EV models in latest crash tests

Tata Curvv.EV BNCAP testTata Motors did it again! Tata Motors has once again secured 5 star rating i...

India needs to step up manufacturing to meet Viksit Bharat goal: Volvo Grp India MD

Volvo Group India Managing Director and President, Kamal Bali. The manufacturing sector is a weak li...

Dollar pullback to help Indian rupee, weak risk appetite to weigh

Investors are now nearly certain that the U.S. Federal Reserve will deliver a 25-basis-point rate cu...