Ola Electric gets Sebi's nod for IPO, aiming to raise Rs 7,250 crore. It's the first Indian EV two-wheeler maker to file for an IPO, with DRHP on Dec 22, 2023.
IPO includes a fresh issue of Rs 5,500 crore and an offer for sale of Rs 1,750 crore, totaling Rs 7,250 crore.
Founder Bhavish Aggarwal and initial investors to sell 95.19 million shares via the offer for sale (OFS).
Funds from the IPO will be used for capex (Rs 1,226 crore), debt repayment (Rs 800 crore), R&D (Rs 1,600 crore), and growth.