Ola Electric gets Sebi’s nod to launch IPO

PTI

Updated At : 01:13 PM Jun 12, 2024 IST

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New Delhi, June 11

Electric two-wheeler company Ola Electric has received capital markets regulator Sebi’s clearance to raise funds through an initial public offering (IPO) — the first issue by an automaker in the country in more than 20 years, people familiar with the matter said on Tuesday.

The proposed IPO is a combination of a fresh issue of equity shares up to Rs 5,500 crore and an offer for sale of 9.52 crore equity shares by promoters and investors.

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