E-vehicle startup Ola Electric and childcare supply company FirstCry, both backed by investor SoftBank, are all set to file their draft IPO paperwork soon. This means that their initial public offering (IPO) could be launched in the beginning of 2024.
Both the firms – Ola Electric and FirstCry – are planning to file the IPO paperwork by next week, reported Moneycontrol. This comes after SoftBank reported that the valuation of both the firms have increased, leading to optimism by the investors.
“FirstCry is looking to raise $500 million and 60 percent of that will be the offer for sale (OFS) component while the remaining will be the primary part,” a source quoted by Moneycontrol said.
