Ola Electric to file DRHP with SEBI this month to raise $700 million via IPO: Report
Backed by SoftBank, the company is targeting a valuation in the range of $7-8 billion by early 2024.
Ola Electric is gearing up to file its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) by December 20, as reported by CNBC-TV18 on December 11. This strategic move is part of the company's ambitious plan to secure a substantial $700 million through its Initial Public Offering (IPO).
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