Ola Electric IPO to be first by auto company in 20 years
Ola Electric is set to launch its IPO, making it the first auto maker in India to do so in over two decades. With an expected size of around INR 8,500 crore, it will be one of the top 15 IPOs in India. Ola Electric is also poised to become the first pure play electric vehicle manufacturer to list on the Indian stock exchanges. The IPO will include fresh equity and offers for sale by existing investors, including Temasek and SoftBank. The funds raised will be used to accelerate the development of an EV manufacturing unit.
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