1. Ola Electric gets SEBI approval for IPO
🚗 The market regulator SEBI has given approval to Ola Electric, the electric vehicle manufacturer, for its IPO. This has been the talk of the town for the past few days as it marks the first time an Indian electric vehicle company has been listed on a stock exchange.
2. Ola Electric prepares to raise ₹7,250 crores through IPO
💰 Ola Electric is gearing up to raise ₹7,250 crores through its IPO. The company filed the draft red herring prospectus for the IPO with the market regulator on December 22, 2023. It is also considering a pre-IPO placement of ₹1,100 crores worth of shares.
3. Fresh shares worth ₹5,500 crores to be issued in Ola Electric’s IPO
📈 In the IPO of Ola Electric, fresh shares worth ₹5,500 crores will be issued, while shares worth ₹1,750 crores will be sold in an offer for sale. The IPO will see participation from major investors like SoftBank, Temasek, Tiger Global, and others.
4. Ola Electric to utilize funds for research and development
🔬 Ola Electric plans to use the funds raised through the IPO for capital expenditure, debt repayment, and research and development. The company will allocate ₹1,226 crores for capital expenditure and ₹800 crores for debt repayment.
5. Investment banks working on Ola Electric’s IPO
🏦 Kotak Mahindra Capital, Citi, Goldman Sachs, and other investment banks are working on Ola Electric’s IPO. The IPO is expected to generate significant interest from investors looking to capitalize on the booming electric vehicle market.
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