Ola Electric Officially Secures SEBI Approval for Rs 5,500 Crore IPO, Targets $6 Billion Valuation

Jun 20, 2024, 07:11 AM

Ola Electric has officially secured approval from the Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The IPO is valued at Rs 5,500 crore, and the company is targeting a $6 billion valuation through this public offering. The approval was confirmed on June 10, as per a notification from the market regulator, which included an observation letter. This development was internally reported by the Economic Times on June 11.