Ola Electric’s IPO Gets A Green Signal From SEBI, Soon To Be Launched

Bhavish Aggarwal, Founder, Ola Electric
Bhavish Aggarwal, Founder, Ola Electric

Bengaluru-based prominent EV startup, Ola Electric has been green-signaled by the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO) to grow ₹5,550 crore. This pivotal movement lands Ola Electronic as the first Indian EV Two-wheeler producer to have its IPOs. The formal announcement of the initiative is anticipated to be made soon.

Reportedly, the Ola Electric founder, Bhavish Aggarwal has informed his employees about the approval from Sebi.

IPO in Progress

In March, the news surfaced regarding Ola Electric on the verge of signing anchor investors for the IPO. Also, during roadshows, the company has been emphasizing its cutting-edge battery technology, which is currently under development, as its unique selling proposition.

On 22nd December, Ola presented the DRHP (Draft-Red-Herring-Prospectus) before Sebi. The ₹5,550 crore IPO comprises 95.2 million shares featuring an offer-for-sale (OFS) component, as quoted by The Economic Times. According to its reports, Bankers suggest that Ola Electric is targeting a $6 billion valuation through its public offering.

Key Points of Ola IPO

  • Ola will become the first Indian EV Two-wheeler producer to have IPOs

  • Ola Electric is on the verge of signing anchor investors for the IPO

  • The ₹5,550 crore IPO comprises 95.2 million shares featuring an offer-for-sale (OFS) component

  • Ola Electric is targeting a $6 billion valuation through its public offering

  • A major part of the earnings would be utilized to inflate the cell manufacturing plant

Impact on the Market

Ola Electric’s IPO launch marks a milestone as the first EV startup IPO in India. This big evaluation will boost investor’s confidence in electric vehicle sectors. In addition, it will make it easier for other EV startups to enter the public market, fostering innovation and competition, and leading to India’s transition to an environment-friendly economy.

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