Stay updated with the latest news and articles about Ola Electric.
Investors picked 198.15 crore equity shares against the offer size of 46.51 crore shares, with both Qualified Institutional Buyers (QIBs) and the retail category providing maximum support. The electric vehicle maker plans to spend Rs 1,227.64 crore on capacity expansion and another Rs 800 crore on debt repayment.
Ola Electric's IPO has garnered over $2 billion in bids for the $330 million institutional allocation. Key investors include SBI, HDFC Mutual Funds, Nomura, and Norges Bank, reflecting strong market confidence in the company's future.
The IPO, scheduled to open for subscription on August 5 and close on August 9, aims to raise substantial capital to fuel Ola Electric’s growth and innovation.
Ola Electric is set to launch its initial public offering (IPO) next week, with an estimated valuation between $4.2 billion and $4.4 billion.
VinFast's $2 billion investment marks a monumental step into India's thriving EV market, reflecting the company's global vision in sustainable transportation.