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

admin admin | 06-20 16:20

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.

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