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Ola Electric writes to i-banks for $700 mn IPO filing by end Oct
Mint Mumbai
|September 21, 2023
India's Ola Electric plans to file regulatory papers for its up to $700 million IPO before the end of October as the e-scooter maker fast-tracks its listing move, three people with direct knowledge said
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Backed by investors including Singapore's Temasek and Japan's SoftBank, Ola Electric was valued at $5.4 billion in a recent fund raising.
In an email to its bankers and lawyers on Sunday, an Ola Electric executive asked external advisers on the IPO - including the investment banking units of India's Kotak and ICICI, as well as foreign banks including Bank of America and Goldman Sachs - to give "utmost priority" to meet a five-week deadline, said the sources.
This story is from the September 21, 2023 edition of Mint Mumbai.
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