Ola Electric IPO: The wait for Ola Electric IPO is going to end. According to the report, the IPO of Bhavish Aggarwal-led Ola Electric is going to open on August 2. According to the report of CNBC TV18, Ola Electric IPO will be open for retail investors from August 2 to August 6. At the same time, the IPO will open on August 1 for anchor investors (big investors). However, no official statement has been issued by Ola Electric on this whole issue yet.
The company may be listed on August 9
According to the report, the listing of Ola Electric IPO will be done on August 9 in Bombay Stock Exchange and National Stock Exchange. Let us tell you, through this IPO, Ola Electric will issue Rs 5500 crore shares under fresh issue and 95.2 million shares under offer for sale.
According to the draft papers, existing shareholders are going to sell 95.19 million shares. Company founder Bhavesh Aggarwal will sell 47.30 million shares. Apart from this, the company's early investors AlphaWave, Alpine, DIG Investment, Matrix and others will sell 47.89 million shares under the offer for sale.
The company will do a road show on July 29
The road show of Ola Electric Vehicles can be held on July 29. The company's valuation was $ 5.4 billion during the last round of funding in September 2023. During the IPO, the company's valuation was estimated at $ 4.24 billion.
These banks are also involved
Ola Electric filed papers with SEBI on 22 December 2023. Kotak Mahindra Capital, Goldman Sachs, Axis Capital, ICICI Securities, BofA Securities, Citi, Bob Caps and SBI Caps are acting as investment banks. SEBI approved the Ola Electric IPO last month.
This is going to be the biggest IPO of new age companies in 2024. At the same time, Ola Electric will now become India's first startup company to bring an IPO. Let us tell you, TVS Motors, Bajaj Auto and Ather are big challenges for this company.
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