The Indian e-scooter maker will raise funds at at a sharply lower $4 billion valuation
India n e-scooter maker Ola Electric said it wants to raise $734 million at a lowered $4 billion valuation.
The new Ola electric scooters displayed during its launch at the Ola headquarters in Bangalore on August 15, 2021. Indian e-scooter maker Ola Electric said on Monday it aimed to raise $734 million in this year's biggest domestic IPO, with foreign investors eyeing the offering after the SoftBank-backed firm was valued at a sharply lower $4 billion.through public listings between January and July, nearly double the figure of the corresponding period last year, LSEG data shows.
A term sheet showed the IPO, which will run from Aug. 1 to Aug. 6, puts a value of $4 billion on the company, which sold its first scooter in 2021. In the IPO, Ola will issue new shares to raise $657 million while existing investors offload their stake of about $77 million to IPO investors, the term sheet showed.
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