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Ola Electric may set valuation at around $4.5 billion for IPO: Report

Ola Electric's upcoming IPO to value company at $4.5 billion, 16-17% lower than last private equity round.

Updated on: Jul 16, 2024 08:24 PM IST
By HT News Desk | Edited by Mallika Soni
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Ola Electric is likely to value the company at around $4.5 billion for its upcoming initial public offering (IPO), it was reported. Citing people in the know, Moneycontrol reported that the valuation is around 16-17% lower than at its last private equity round in which the SoftBank-backed Indian e-scooter maker was valued at around $5.4 billion.

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Ola Electric IPO: Ola Electric received official approval from market regulator Securities Exchange Board of India (SEBI) for its initial public offering.
Ola Electric IPO: Ola Electric received official approval from market regulator Securities Exchange Board of India (SEBI) for its initial public offering.

This means that Ola Electric will join startups like Mamaearth and GoDigit that went for an IPO with a lower valuation than what they secured from their last private equity funding rounds. Earlier it was reported that Ola Electric received official approval from market regulator Securities Exchange Board of India (SEBI) for its initial public offering through which the company is looking to raise ₹7,250 crore. As per Sebi, the IPO for a fresh issue of ₹5,500 crore and Offer for Sale (OFS) of ₹1,750 crore has been approved.

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Net proceeds from the IPO will be used by the company to fufill capital expenditure, repay debts and for research and development (R&D). Ola Electric will use around ₹1,226 crore for capex and ₹800 crore to repay debt.

 
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HT News Desk

Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.

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