Ola Electric eyes IPO filing by October-end in expedited listing plan: Sources
India’s Ola Electric plans to file regulatory papers for its up to $700 million IPO before the end of October as the e-scooter maker fast-tracks its listing move, three people with direct knowledge said.
Backed by investors including Singapore’s Temasek and Japan’s SoftBank, Ola Electric was valued at $5.4 billion in a recent fund raising.
In an email to its bankers and lawyers on Sunday, an Ola Electric executive asked external advisers on the IPO – including the investment banking units of India’s Kotak and ICICI, as well as foreign banks including Bank of America and Goldman Sachs – to give “utmost priority” to meet a five-week deadline, said the sources.
