According to Reuters, Ola Electric State Bank of India and HDFC Mutual Funds received shares worth approximately $30-36 million each, while Nomura and Norges Bank received shares for around $24 million each.

Ola Mobility will launch its initial public offering (IPO) on August 2.
A day before its initial public offering (IPO), Ola Electric got more than $2 billion in bids for a $330 million quota allocated for large institutions, according to Reuters.

According to Reuters, State Bank of India and HDFC Mutual Funds were each assigned shares worth $30-36 million in the issuance, while Nomura and Norges Bank were each allocated shares worth approximately $24 million.

Ola Electric Mobility will launch its initial public offering (IPO) on August 2, with a large portion of the funds going into capacity expansion of its cell production facilities and increased R&D.

Also read: Have done enough for the market.To witness excitement on listing day: Ola Electric’s founder, Bhavish Aggarwal.

Ola Cabs’ IPO is coming soon! Bhavish Aggarwal’s company is in talks with banks about initial public offering advice.

Ola Cabs IPO: Ola Cabs, a ride-hailing aggregator, plans to raise $500 million in an initial public offering (IPO), with a valuation of around $5 billion, according to Reuters.

According to sources in the story, Ola intends to submit its IPO papers for approval to the Securities and Exchange Board of India (SEBI) within the next three months.

SoftBank-backed Ola Electric is now in talks with investment banks such as Goldman Sachs, Bank of America, Citigroup, Kotak, and Axis. According to the report, the selection of IPO advisors is expected to be completed within one month.

Ola Electric second Initial Public Offering (IPO)

Ola Electric is making its second public offering, following an unsuccessful attempt to raise $1 billion in 2021.Ola’s financing round in 2021 valued the company at $7 billion. However, its investors have decreased its internal valuation. Vanguard, an Ola shareholder, reduced the company’s internal valuation to $1.9 billion in February, according to a Reuters story citing a filing.

Ola Electric IPO

On December 22, 2023, Ola Electric filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The proposed offering includes a fresh release of ₹5,500 crore equity shares and an offer for sale (OFS) of 95,191,195 equity shares with a face value of ₹10. According to the original draft papers filed with SEBI, Bhavish Aggarwal, the creator of Ola Electric, seeks to sell around 47.4 million.

Mint reported on shares in the SoftBank Group-backed electric scooter manufacturer.Within one month, according to the research.

Ola Electric second Initial Public Offering (IPO)

Ola is making its second public offering, following an unsuccessful attempt to raise $1 billion in 2021.In other developments, Ola Cabs is stopping its foreign operations to focus on growing its electric fleet in India. It has already discontinued operations in New Zealand, Australia, and the United Kingdom.

Ola cabs

Ola was founded by Bhavish Aggarwal, a prominent figure in India’s startup sector. Ola Cabs, the platform, is critical to creating a better transportation system. Moving forward, Ola intends to improve travel experiences with new features and expanded offerings. The goal is to become the chosen mobility provider, accommodating all travel needs and making transportation a seamless aspect of daily life.

Ola down round will worry India’s IPO hopefuls

Mumbai, July 30 (Reuters Breaking Views) – Indian equities are selling at exorbitant premiums, but worry is creeping into one segment of the market. SoftBank-backed e-scooter producer Ola Electric (9984.T) announced its initial public offering on Monday, seeking a valuation of up to $4 billion. That’s a quarter less than its previous investment round in September, indicating that investor patience with underperforming tech stars is running out. It serves as a caution to other upstarts considering a public market launch.

Ola took only three years to become the top manufacturer of battery-powered scooters in the world’s second-largest two-wheeler industry, accounting for more than a third, according to a new tab of sales through the end of March. And its share is still increasing.
It helps that Bhavish Aggarwal’s company has benefited from New Delhi’s production-linked subsidies for producing electric vehicles and fuel cells. It hopes to power its motorcycles with its own lithium batteries beginning next year.

Such extraordinary growth is enticing.

Reuters reported on Monday that Fidelity and Nomura are potential anchor investors, citing anonymous sources with firsthand information. However, the insistence on a down round indicates that they want Ola’s valuation to be closer to that of its listed competitors.

Ola’s enterprise value at the top end of its IPO price band is $4.3 billion after accounting for $325 million in outstanding debt and lease liabilities, according to Breakingviews calculations based on the company’s prospectus.

That means a 7-fold increase in its $600 million revenue from 2023 to 2024, surpassing closest rival TVS Motors (TVSM.NS) (opens new tab 4.5 times) and Bajaj Auto (BAJA.NS) (opens new tab 6 times). Both companies are now selling more gas guzzlers than.

Also Read :- https://indydeafnews.com/ismail-haniyeh/