Ola has now emerged as an auto company, not just a cab aggregator. For the last few days, his days are not going well. In such a situation, Ola Electric is going to bring its IPO to fix its time. If experts are to be believed, the responsibility of this has also been handed over to many agencies like Kotak Securities from Goldman Sachs.
According to the figures, this IPO can be from Rs 6600 crore to Rs 8000 crore. Anyway, its date has not been decided yet, but it is believed that it can be launched at the end of the third quarter of the current financial year or at the beginning of the fourth quarter. Let us also tell you what kind of information is floating in the market regarding this IPO.
He was made lead manager
According to a media report, Ola Electric is planning to bring an IPO with a valuation of US $ 10 billion with an aim to raise between US $ 800 million to US $ 1 billion i.e. from Rs 6600 crore to Rs 8000 crore. The report also states that Ola Electric has appointed Goldman Sachs, ICICI Securities, Axis Capital, Citi and Kotak Securities as lead managers for its IPO. It is believed that the EV maker has appointed Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas as legal advisors.
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There can be a combination of new issue and OFS
The IPO of Ola Electric is expected to be launched in the last quarter or early fourth quarter of the current financial year. It can be a combination of new issue and OFS. OFS is about 10 per cent of the IPO. Ola Electric will be the first Indian EV maker to be listed. If the company is able to create a valuation of US$10 billion, the company will become the third most valuable 2-wheeler brand in India after Bajaj Auto and Eicher Motors.