The Ola Electric IPO is a big deal: Ola Electric is getting ready to launch its Initial Public Offering (IPO), and it’s making history as the first carmaker in India to do so in over 20 years. Expected to raise around Rs 8,500 crore, this is a big deal, putting it in the top 15 IPOs in India. Ola Electric is not just any car company; it’s set to be the first one focused solely on electric vehicles (EVs) to be listed on Indian stock exchanges. The IPO involves bringing in new money and selling shares from existing investors, including big names like Temasek and SoftBank. The funds raised will help speed up the development of their EV manufacturing hub.
MUMBAI: Ola Electric’s upcoming IPO is making waves as the first of its kind in the Indian car scene in over two decades. For context, the last time we saw something like this was in 2003 when Maruti Suzuki, then called Maruti Udyog, went public. More info about The Ola Electric IPO is a big deal because it’s the first by auto company in 20 years.
The Ola Electric IPO is a big deal
With an estimated value of about Rs 8,500 crore (that’s roughly billion), Ola Electric’s IPO is making headlines as one of the top 15 financial moves in India.
Ola Electric is not just breaking records; it’s paving the way as the first-ever EV manufacturer to join the ranks of listed companies on Indian stock exchanges.
While the official paperwork is expected to drop this month, the IPO will mix things up by bringing in new investments and letting existing backers, like Temasek from Singapore and SoftBank from Japan, sell some of their shares. More info about The Ola Electric IPO is a big deal because it’s the first by auto company in 20 years.
Since Ola Electric is in the paperwork phase, they didn’t share any comments for this story.
Earlier this year in October, they secured a significant amount of Rs 3,200 crore through a mix of cash and debt. A good chunk of this cash is going into overdrive for their EV manufacturing unit and a battery facility in their Tamil Nadu gigafactory. This massive factory is set to start running by early 2024 and is all about making electric vehicles to help clean up the environment.
