17 July 2024
Ola Electric, the SoftBank-backed electric vehicle (EV) maker, is likely to pursue a valuation of approximately $4.5 billion in its upcoming initial public offering (IPO), marking about 18 per cent decrease from its last funding round valuation of around $5.5 billion, according to industry sources.
“The strategy is to price the IPO attractively for investors, fostering long-term growth and wealth creation,” said a source. When contacted, the company declined to comment.
June 20, Ola Electric received approval from the Securities and Exchange Board of India (Sebi) to proceed with its IPO plans, with the goal of raising Rs 7,250 crore (around $860 million). This nod set the stage for Ola Electric to become the first Indian electric vehicle company to go public.
Ola Electric, the SoftBank-backed electric vehicle (EV) maker, is likely to pursue a valuation of approximately $4.5 billion in its upcoming initial public offering (IPO), marking about 18 per cent decrease from its last funding round valuation of around $5.5 billion, according to industry sources.
“The strategy is to price the IPO attractively for investors, fostering long-term growth and wealth creation,” said a source. When contacted, the company declined to comment.
June 20, Ola Electric received approval from the Securities and Exchange Board of India (Sebi) to proceed with its IPO plans, with the goal of raising Rs 7,250 crore (around $860 million). This nod set the stage for Ola Electric to become the first Indian electric vehicle company to go public.
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