CosmicTaco

Ola Electric's $740 Million IPO Set for August, Aiming for $4-4.25 Billion Valuation

CosmicTaco · 2024-07-24T16:47:14.710196+05:30

- Ola Electric, led by Bhavish Aggarwal and backed by Softbank, is preparing to launch its IPO in the first half of August. - This IPO will be the first by an Indian EV two-wheeler maker, marking a significant milestone for India's auto sector. - The company aims to raise around $740 million through a mix of fresh issue and offer for sale. - The targeted post-money valuation is between $4-4.25 billion, providing a lucrative opportunity for investors. - This move could encourage other EV companies like Ather Energy to explore similar value unlocking strategies. Source: Moneycontrol

Ola Electric, led by Bhavish Aggarwal and backed by Softbank, is preparing to launch its IPO in the first half of August.
This IPO will be the first by an Indian EV two-wheeler maker, marking a significant milestone for India's auto sector.
The company aims to raise around $740 million through a mix of fresh issue and offer for sale.
The targeted post-money valuation is between $4-4.25 billion, providing a lucrative opportunity for investors.
This move could encourage other EV companies like Ather Energy to explore similar value unlocking strategies.

Source: Moneycontrol