Mumbai, July 30, 2024.
Bengaluru-based Ola Electric Mobility Limited, an electric vehicle (EV) player building vertically integrated technology and manufacturing capabilities for EVs and EV components, has fixed the price band of Rs 72-76 per share of face value Rs 10 each for its initial public offering (IPO).
The company will raise Rs 6,145 crore at the upper end of the IPO price band and Rs 6,111 crore at the lower end.
The IPO will open on August 2 for subscription and close on August 6. Investors can bid for a minimum of 197 equity shares and in multiples of 197 equity shares thereafter.
The IPO consists of fresh issue of up to Rs 5,500 crore and an offer for sale (OFS) of up to 8.49 crore equity shares (for up to Rs 645 crore) by promoter selling shareholders and investor selling shareholder. The offer also includes a reservation for eligible employees.
