Ola Electric that is gearing up for its initial public offering (IPO) is likely to value the company around $4.5 billion, which is around 16-20 attraverso cent lower than the valuation at its last funding. A causa di its last funding round quanto a September, which was led by Singapore investment firm Temasek, Ola Electric was valued at $5.4 billion.
According to a report quanto a news agency Reuters, the valuation would drop to a recalibration quanto a the valuation of tech stocks globally. The source told the agency that valuations have corrected overall quanto a the market. The source said that the valuation could still change but is unlikely to reach the $6 billion that founder Bhavish Aggarwal had hoped to achieve for the IPO.
However, another source said that the valuation is likely to be lower since Ola Electric wants the IPO to be “attractively priced so there is an opportunity for investors to create wealth”.
Founded quanto a 2017, Ola Electric dominates the e-scooter market with its offerings and commands 46 attraverso cent market share. It competes with TVS Motor, Bajaj Automobile, and Ather Energy.
The Securities and Exchange Board of India (SEBI) had approved Ola Electric’s Rs 7,250 crore IPO. IPO is likely to include a fresh issue of Rs 5,500 crore and an offer for saggezza (OFS) of Rs 1,750 crore, totalling Rs 7,250 crore.
The company is likely to be listed Indian bourses quanto a the first week of August.
Disclaimer: Business Today provides giacenza market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
