Tech
Strategy

Why Bhavish Aggarwal is raising debt ahead of Ola Electric IPO

Why Bhavish Aggarwal is raising debt ahead of Ola Electric IPO

Ola Electric's gigafactory under construction as of November, 2023. Credit: Twitter

Synopsis

Sources tell ET Prime that Ola Electric is in discussion with Temasek-backed Innoven Capital and others, including hedge funds, for USD100 million debt. Meanwhile, the company founder and CEO, Bhavish Aggarwal, is said to have begun preliminary talks with potential public market investors.

By
4 mins read, Last Updated:
Even as Ola Electric has kick-started an IPO process, it is raising additional debt, two top sources privy to the development tell ET Prime. The company has been working on a debt deal for the past three months and is in talks with Innoven Capital and others for a venture debt funding to the tune of USD100 million, they said. According to one of the sources, Bhavish Aggarwal, founder and CEO of Ola Electric, is also talking to a number of hedge

To Read the Full Story, Become an ET Prime Member

Access the exclusive Economic Times stories, Editorial and Expert opinion

Subscribe Now

Monsoon Offer

Get flat 20% off

on ETPrime membership

Membership Benefits

Access the exclusive Economic Times

Stories, Editorial & Expert opinion

Complete Access with ET Prime

Experience your Economic Times newspaper, The way you've always liked!

Get to know where the market gurus invest & grow your portfolio.

Stock Report Plus

In-depth stock analysis for 4000+ companies

Stock Analyzer

Instant stock analysis based on Solvency, Profitability, Growth, Valuation, Momentum, Risk & More.

Now Available with ET Prime

Manage your money efficiently with this weekly guide.

Clean experience

with minimal ads

Easy & distraction-free reading with 90% less ads

Sharp Insight-rich,

In-depth stories across 20+ sectors

1500+ Exclusive stories & analysis across sectors to help you stay informed

Get One Year Times Prime Subscription worth ₹1199 for free

Get 1 Year Complimentary Subscription of TOI+ worth Rs.799/-

Enjoy unlimited access to breaking news and thought provoking stories from all around the world.

Get One Year Docubay Subscription worth ₹999 for free

Stream award-winning international documentaries from more than 100 countries.

Offers By Our Partners

Exclusively for ET Prime Members

Members Love Us

The stalwarts of the industry trust ET Prime for insightful analysis & unbiased thought pieces

Gift a story

Your membership includes Story Gifting Credits. Now gift exclusive stories to your friends & peers.

Comment & Engage

with ET Prime community

Communicate & build a connection with great minds of the industry

A trusted team of

Journalists & Analysts

Unbiased perspective & detailed reporting by our team of journalists who have in-depth knowledge and years of experience