The fresh investment was courtesy anchor investors at ₹76/share
Share Post
The fresh investment was courtesy anchor investors at ₹76/share
IPO-bound Ola Electric announced that it has received a fresh investment of ₹2,763 crores from anchor investors. The company received this investment against 36,35,56,135 equity shares which were sold at ₹76/share. The IPO will open to subscription between August 2 to 6 and the company is likely to be listed on the stock exchange in the second week of August.
Through the IPO, Ola Electric plans to raise ₹5,500 crores with an estimated valuation between ₹35,162 to ₹36,863 crores via an offer for sale (OFS) of up to 84,941,997 equity shares. The price band for the share is between ₹72-76/equity share and investors can bid a minimum of 197 equity shares and in multiples of 197 equity shares thereafter. The total valuation via the upper end of the price band can fetch Ola Electric up to ₹6,145 crores. Ola Electric recently announced that revenues for the company rose by an incredible 90% at ₹5,009 crores. However on the flipside losses too increased by 8% at ₹1,584 crores.
On the product end, Ola scooters continue their domination in the EV two-wheeler space with almost 50% market share. In fact, in June 2024, total sales surprised 2 lakh units within six months, setting a new sales record for Ola. After dominating the scooter segment, Ola also has plans to enter the electric motorcycle segment and will be revealing new electric bikes on August 15.
Upcoming Royal Enfield Motorcycle Launches In 2024
Arun Mohan Nadar 22 Oct, 2024, 12:51 PM IST
New Triumph Tiger Sport 800 Launched
Sutanu Guha 22 Oct, 2024, 11:59 AM IST
Bajaj Pulsar N125 vs TVS Raider 125: Spec Comparison
Sutanu Guha 22 Oct, 2024, 10:09 AM IST
Volkswagen Virtus Crosses 50,000 Sales Milestone Since Launch
Pratik Rakshit 22 Oct, 2024, 9:24 AM IST
Qualcomm Snapdragon 8 Elite SoC Announced: Flagship Phone Gaming, AI
Jamshed Avari 22 Oct, 2024, 6:39 AM IST
We promise the best car deals and earliest delivery!