India’s leading electric two-wheeler company, Ola Electric Mobility, has taken a significant step towards its initial public offering (IPO). Ola Electric plans to utilize Rs 1,200 crore to expand the cell manufacturing capacity of Ola Gigafactory, Rs 1,600 crore for research and development, Rs 800 crore to address certain debts of Ola Electric Technologies, and Rs 350 crore for organic growth and general corporate requirements. Ola Electric aims to leverage the IPO to further consolidate its position in India’s rapidly growing EV market. What is Ola Electric Mobility’s IPO for? Ola Electric Mobility has filed for an IPO to raise funds from public investors.

Source: Economic Times December 23, 2023 12:52 UTC