Ola Electric, led by Bhavish Aggarwal, is set to file for an IPO by next month after receiving approval from the Securities Exchange Board of India (Sebi). The company aims to raise Rs 7,250 crore and is targeting a $6-7 billion valuation. The IPO will involve the sale of 47.4 million shares by Aggarwal and other shareholders. Funds will be allocated towards capex, debt repayment, R&D, and growth initiatives. Ola plans to power its EVs with in-house lithium-ion battery cells produced at its new gigafactory in Tamil Nadu by early next year.
Ola Electric Prepares for IPO Amid Major Expansion Plans
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