Topic starter
27/07/2024 3:24 pm
Hey, did you hear about Ola Electric's IPO? It’s opening for retail investors on August 2! They’re aiming to raise around ₹5,500 crore, which is huge. Founder Bhavish Aggarwal will be selling 37.9 million shares as part of the offer-for-sale, which is slightly less than initially planned.
The IPO is expected to launch at a valuation of about $4 billion, which is lower than their last funding round. It seems they want to price it attractively based on banker feedback. With Ola Electric holding a significant market share in the electric scooter segment, this IPO could set the stage for more tech companies to go public soon. It’s definitely a big move for the company and the market!
