Ola Electric Technologies, which is led by Bhavish Aggarwal has got a positive nod from SEBI to take the company public via an IPO offering of Rs. 7500 Cr.
With the IPO, the company aims to raise Rs. 5500 cr via fresh issues and also offer 95.2 million shares via offer-for-sale (OFS). Ola Electrics is also planning to get pre-IPO placement for shares of Rs. 1100 Cr.
For OFS, Bhavish Aggarwal is selling 47.4 million shares out of the total OFS of 95.2 million shares. This IPO is set at a valuation of $ 6 billion valuation for Ola Electrics.
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