OLA ELECTRIC IPO OPENS ON AUGUST 2

Ola Electric, a Bengaluru-based electric two-wheeler manufacturer, announced on Monday that its upcoming initial public offering (IPO) will have a price band of Rs 72-76 per share. The IPO, which will be open from August 2 to August 6, consists of a fresh issue of shares worth Rs 5,500 crore and an offer for sale (OFS) of 8,49,41,997 shares.

The OFS, at the upper price band of Rs 76, would be valued at approximately Rs 645.56 crore. Various stakeholders, including Promoter Bhavesh Aggarwal, the promoter group entity Indus Trust, and several investors such as Alpha Wave, Alpine, Matrix Partners India Investment, Internet Fund III, MacRitchie Investments, SVF II Ostrich (DE), Tekne Private Ventures, and Ashna Advisors, will be selling their stakes through the OFS.

Learn More