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As Ola Electric files draft IPO documents, 12 key things you should know before investing

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Indian entrepreneur, co-founder and CEO of Ola, Bhavish Aggarwal, poses for a photograph with the new Ola electric scooter during its launch at the Ola headquarters in Bangalore

Synopsis
Ola Electric is the first pure-play EV start-up in India heading for an IPO, which is likely to open in FY25. ET Prime does an impact analysis of some much-talked-about facts about the Bhavish Aggarwal-led company and brings to light some not-so-known ones.

Last week of December 2023, Ola Electric Technologies filed a draft red herring prospectus (DRHP) with market regulator Sebi for a public listing. The company will issue fresh equity shares of up to INR5,500 crore and an offer for sale (OFS) of around INR1,400 crore-INR1,500 crore. This is the first attempt by any Indian electric vehicle (EV) maker to go for an initial public offering. (Olectra, an electric bus maker, is listed.) The DRHP says

( Originally published on Dec 28, 2023 )