Ola Electric eyes Rs 6,000 crore in 1st auto IPO since Maruti

Ola Electric’s Rs 6,146-crore IPO, the largest this year, opened on Aug 2 and closed on Aug 6. The company sought to raise Rs 5,500 crore through a fresh share issuance, with the rest coming from existing shareholders. Despite a lower-than-expected valuation of $4 billion, founder Bhavish Aggarwal remains optimistic about the EV market’s growth.