Ola Electric Sparks Up IPO Plans, Aims for Rs.7,250 Crore

Homegrown EV Pioneer Files DRHP with SEBI, Eyes Expansion and India's First Lithium-Ion Cell Manufacturing Facility

Ola Electric, a trailblazer in the Indian electric vehicle sector, has formally submitted its Draft Red Herring Prospectus (DRHP) to SEBI for an IPO valued at Rs.7,250 crore. The IPO comprises a fresh issue of Rs.5,500 crore and an offer for the sale of up to 95.19 million equity shares.

The allocated funds focus on strategic areas, with Rs.1,226 crore earmarked for capital expenses, Rs.800 crore for debt repayment, and Rs.1,600 crore for research and development. Ola Electric sets its sights on a valuation of $7-$8 billion, with plans to establish India's inaugural lithium-ion cell manufacturing facility in Tamil Nadu, further enhancing its manufacturing capabilities. Established in 2015 by Bhavish Aggarwal, Ola Electric continues to lead India's EV two-wheeler market.