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News Details

29/07/2024 17:10

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Ola Electric Mobilit announces launch of initial public offering

Ola Electric Mobility Ltd. has announced public offering of 808626206 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 66.00 per share. The gross proceeds of the issue are expected to be Rs 6,14,555.92 lakhs.

The company's initial public offer (IPO) will open on 02 August 2024 and is expected to close on 06 August 2024, subject to customary closing conditions. The price band of the issue has been fixed at Rs 72.00-76.00 per share.

The IPO includes a fresh Issue of 808626206 Equity Shares of the Company at an price of Rs 76.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 195 shares with bids in multiples of 195.

Ola Electric Mobility Ltd. anticipates using the proceeds of the issue for .

ICICI SECURITIES LTD,Citigroup Global Markets India Pvt.Ltd.,Axis Capital Ltd.,Goldman Sachs (India) Securities Pvt. Ltd.,Kotak Mahindra Capital Company Limited,BOB Capital Market,BofA Securities India Limited,SBI Capital Markets Ltd. as lead manager(s) & Link intime India Pvt. Ltd. is the registrar, to the issue.