Ola Electric aims to raise Rs 5,500 cr through IPO

New Delhi, June 20 Electric two-wheeler company Ola Electric Mobility’s proposed Rs 5,500 crore IPO has received the go-ahead from Sebi, paving way for the company to tap the market with a significant part of the proceeds to be used...

PTI

Updated At : 01:27 PM Jun 21, 2024 IST

New Delhi, June 20

Electric two-wheeler company Ola Electric Mobility’s proposed Rs 5,500 crore IPO has received the go-ahead from Sebi, paving way for the company to tap the market with a significant part of the proceeds to be used on capacity expansion of its cell manufacturing plant and revving up R&D.

Ola Electric as well as Bain Capital-backed Emcure Pharmaceuticals received Sebi’s approval to raise funds through initial public offerings (IPOs), an update with the markets regulator showed on Thursday.