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Temasek to lead Ola Electric's $350 mn fundraising round
Mint Mumbai
|June 23, 2023
Singapore’s Temasek will lead a $300-$350 million round in Ola Electric, a portfolio firm with an infusion of $100- $150 million, people with direct knowledge of the matter said. The deal is in the final stages of due-diligence, the people added.
According to them, the deal could value Bhavish Aggarwal-led Ola Electric to $6 billion, 20% higher than the $5 billion valuation it secured in the last funding round in early 2022.
In response to emailed queries, a Temasek spokesperson declined to comment.
The electric two-wheeler maker, which has aspirations to foray into passenger EVs, started roping in IPO bankers last month for a potential listing early next year, just before the general elections in 2024.
This story is from the June 23, 2023 edition of Mint Mumbai.
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