Ola Electric files DRHP with SEBI, aims to raise Rs 5,500cr via IPO: Report
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Homegrown electrical two-wheeler producer Ola Electric has filed its draft purple herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI), a media report stated on Friday.
According to Moneycontrol, citing sources, the contemporary situation element will include Rs 5,500 crore and the steadiness can be the OFS (provide on the market) class, round Rs 1,750 crore.
This would be the first-ever Initial Public Offering (IPO) by an Indian EV agency.
Moreover, the media reviews earlier stated that via the IPO, Ola Electric plans to broaden its EV enterprise and set up a lithium-ion cell manufacturing facility. The firm began gross sales in December 2021 and has offered over 3,53,000 models to date.
Meanwhile, Bhavish Aggarwal-driven Ola Electric’s web loss practically doubled to Rs 1,472 crore in FY23, from Rs 784.1 crore within the earlier fiscal yr, as bills surged considerably.
The electrical automobile firm reported an EBITDA lack of Rs 1,318 crore as its complete bills jumped to Rs 3,383 crore, compared to Rs 1,240 crore in FY22.
(With inputs from IANS)
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