Ola Electric hires Goldman, Kotak with IPO aim by 2023 end
Ola Electric is planning a stock market listing by the end of 2023 and has appointed investment bank Goldman Sachs and domestic bank Kotak to manage the share sale, a source with direct knowledge of the matter told Reuters.
Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management and was valued at Rs 41,372 crore in its last fundraise in 2022.
More investment banks are likely to be added closer to the deal, the source said.
Ola Electric, founded by Bhavish Aggarwal, who also established ride-hailing firm Ola and competes with Uber, is trying to capture India’s nascent but promising electric vehicle market.
