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Ola Electric, which listed its shares on Aug. 9 after a $734 million initial public offering (IPO), has seen its shares jump 75% over the launch price of 76 rupees. It was valued at $5.4 billion ...
NEW DELHI (Reuters) -SoftBank-backed Indian e-scooter maker Ola Electric is likely to value the company at around $4.5 billion for its initial public offering (IPO), around 16%-20% lower than the ...
Ola Electric's IPO drew $1.8 billion in bids as the share sale closed on Tuesday, as investors piled into the first stock offering by a pure-play electric vehicle maker in India. The SoftBank ...
The direct public offering (DPO), as they term it, [15] was not done by auction but rather at a share price set by the issuing corporation. In this sense, it is the same as the fixed price public offers that were the traditional IPO method in most non-US countries in the early 1990s.
Ola Electric was established in 2017 as a wholly-owned subsidiary of ANI Technologies, the parent entity of Ola Cabs. [10] [11] The company was started to reduce emission and fuel dependency of Ola's cabs, and shift to mass electric mobility; a pilot program was launched in Nagpur in May 2017 by setting up charging stations across the city and procuring electric cabs, e-buses, and e-rickshaws ...
In October 2021, Ola launched its new and pre-owned car marketplace called Ola Cars in 30 cities, which was also expected to sell new vehicles of Ola Electric and other brands. [ 53 ] [ 54 ] By May 2022, the company had scaled down operations to 17 cities. [ 55 ]
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India's Ola Electric plans to file regulatory papers for its up to $700 million IPO before the end of October as the e-scooter maker fast-tracks its listing move, three people with direct ...