Ola Electric is set to launch its IPO on August 2 with a price band of ₹72-₹76 per share, including a discount for employees.
The IPO includes a fresh issue of shares worth ₹5,500 crore and an offer for sale by promoters. Proceeds will be used to expand manufacturing capacity, repay debts, and invest in R&D. The company aims to enhance its cell manufacturing capacity and launch new electric motorcycles by fiscal 2026. The IPO will conclude on August 6, 2024.