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Ola Electric first Indian EV maker to file for IPO
Ola Electric Mobility, led by Bhavish Aggarwal, has filed for an IPO with Sebi, aiming to raise approximately Rs 10,000 crore. This makes Ola Electric the first electric vehicle (EV) company in India to pursue a public offering. Notably, it is also the first automobile company in over two decades to go public since Maruti Suzuki in 2003. The IPO documents indicate a plan to raise Rs 5,500 crore through the issuance of new shares. Additionally, 10 existing shareholders, including promoters, private equity firms like SoftBank, Matrix Partners, and Tiger Global, will sell part of their holdings.
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