India’s largest electric two wheeler maker Ola Electric received market regulator Sebi (Securities and Exchange Board of India) nod for its intial public offering (IPO). The IPO is a combination of a fresh issue of equity shares up to ₹5,500 crore and an offer for sale (OFS) of 9.52 crore equity shares by promoters and investors, as per draft red herring prospectus (DRHP). The Bengaluru-based company filed preliminary IPO papers with Sebi in December 2023.
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