– Ola Electric Mobility is planning for a major expansion push in the electric vehicle market with an IPO.
– The IPO is set to open on August 2nd and aims to raise Rs 5,500 crore in primary capital and an additional Rs 645.6 crore through an offer for sale.
– Funds raised will be used for cell manufacturing, research and development, and debt repayment.
– Ola Electric is committed to making EVs accessible to a wider market, focusing on bringing EVs to the mass market.
– The company’s capital expenditure plans for vehicle manufacturing and cell production are well-funded.
– Promoters and other investors will be offloading shares through the offer for sale route.
– Subscription dates for the IPO are from August 2 to August 6, with a 10% reservation for retail investors.