Ola Electric Sets Price Band of Rs 72-76 a Share for IPO

• Ola Electric Mobility Ltd has announced a price band of Rs 72-76 per share for its upcoming IPO, set to open for subscription on August 2.
• The IPO includes a fresh issue of Rs 5500 crore and an offer for sale of up to 84.94 million shares, with the total issue size reaching Rs 6145.96 crore.
• Promoters Bhavish Aggarwal and Indus Trust will be selling 3.79 crore and 41.79 lakh equity shares respectively in the offer for sale.
• The largest shareholder, SVF II Ostrich (DE) LLC, will offload 2.38 crore shares, reducing its stake from 21.98 percent.
• The anchor investor bidding will commence on August 1, with the issue closing on August 6, valuing the company at around Rs 33500 crore.

Source: Moneycontrol