Ola Electric IPO: Bhavish Aggarwal Set to Host Investor Meet to Drive Expansion
In a strategic move to take Ola Electric public, Bhavish Aggarwal, the CEO and founder of Ola, will be hosting investor meetings aimed at garnering support and capital for the company’s expansion plans.
Over the next two weeks, Aggarwal will be embarking on a tour to Singapore, the United States, and the United Kingdom, where he will engage with prominent investors such as BlackRock, Singapore’s sovereign wealth fund GIC, and notable mutual funds including T Rowe Price. Sources, who chose to remain anonymous, revealed this information to Reuters.
It is anticipated that Ola Electric’s IPO could raise an impressive sum of up to $1 billion, potentially taking place by the end of this year or in early 2024.
Earlier reports by Moneycontrol indicated that Ola Electric has already enlisted the services of investment banks Kotak Mahindra Capital and Goldman Sachs to handle their forthcoming initial public offering (IPO), slated for early 2024.
As a leading player in the electric two-wheeler market, Ola Electric intends to go public before electric vehicle subsidies come to an end. A source with insider knowledge stated, “While no specific timeline has been finalized, the aim is to launch the IPO before the upcoming elections next year.”
During these investor meetings, Aggarwal is expected to provide valuable insights into Ola Electric’s future plans and highlight its impressive growth prospects.
In India’s rapidly expanding EV scooter segment, Ola faces competition from prominent players such as TVS Motors, Ather Energy, and Hero Electric.
About Ola Electric:
Ola Electric Mobility, with its headquarters in Bengaluru, India, has emerged as a leading manufacturer of electric two-wheelers. As of May 2023, the company has garnered significant attention, with a valuation of around $6 billion. Ola Electric’s manufacturing facility is strategically located in Krishnagiri, Tamil Nadu, India.
For more of the Latest News, Click Here
