Lucknow Press
The IPO of Ola Electric, an Indian company that is number one in the electric scooter competition, may open for subscription on August 2, 2024. Ola Electric has set a target of raising around $740 million through fresh issue and OFS. According to reports, meanwhile, Ola Electric is preparing to start an anchor round for its IPO on August 1.
Ola Electric’s IPO is likely to open to the general public between August 2 and 6. Ola Electric has set a target of raising around $740 million through fresh issue and OFS.
The IPO of the EV company can be listed on the stock exchange on August 9. With this, it will become the first Indian electric two-wheeler company to bring an IPO.
Ola Electric manufactures EVs and key components such as battery packs, motors and vehicle frames at its Futurefactory in Tamil Nadu. This factory is being expanded to become the world’s largest two-wheeler plant with an annual production capacity of 10 million units.
According to sources, the company has set up a gigafactory for manufacturing lithium-ion cells in Tamil Nadu with an initial capacity of 5 GWh. There is a plan to increase this capacity to 100 GWh in a phased manner.
