Ola Electric likely to set valuation at $4.5 billion in upcoming IPO

Quick Summary:

This is about 16-20 per cent lower than its last funding round when the electric vehicle maker was valued at around $5.

Ola Electric founder Bhavish Aggarwal had an ambitious target of at least $6 billion for the IPO.

Ola Electric makes EVs and core EV components such as battery packs, motors, and vehicle frames at the Futurefactory in Tamil Nadu.

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Article Details

Category: BusinessFinance

Markets: India

Topics: IPO Bhavish Aggarwal Electric vehicle SoftBank-backed Ola Electric SoftBank

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-16 @ 21:02:39 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 587 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 21654591

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Official Website: business-standard.com

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