Ola Electric To Go Public In August?

Talks of the electric start-up going public have been going around for a few months now.

Ola Electric is likely to launch its IPO in the month of August with an estimated $ 740 million (₹ 6,200 crores approx.) to be raised in the process. By doing so, the Bengaluru-based electric mobility start-up is going to become the first Indian company of its kind to do so.

According to an online report, the August offering will target Ola’s post-money valuation to be somewhere between $4-4.25 billion. The aim is to offer the public an ‘attractively priced’ IPO, which should give investors the impetus to invest in the growth of the company. 

(Also read: Ola Electric Gets Approval From SEBI For ₹5,500 crore IPO)

Ola is looking to utilise these funds in R&D and capex while minimising debt in the process as well. Ola’s CEO, Bhavish Aggarwal, recently shared a teaser of the company’s upcoming electric motorcycle, which could be a way to entice the investors further into what the company has planned for in the immediate future. Head here to read more on the upcoming Ola e-motorcycle.

Usually, Ola announces its grand plans on August 15 and the same could be the case this year. We are hoping that the new e-motorcycle as well as further announcements on the IPO is made this Independence Day. And who knows, if all goes smoothly for Ola, it would give its rival Ather Energy also some boost to go ahead with its own IPO.

Source: Moneycontrol