February 12, 2025
Electrical Scooter IPO to Check Enthusiasm for India’s EV Story

An preliminary public providing deliberate for subsequent yr in India might be a vital check for the nation’s budding electric-vehicle market. 

India’s Ola Electrical, which makes two-wheeled electrical scooters, filed in late December a draft prospectus for a public itemizing, searching for to boost about $662 million. It is going to change into the primary EV maker to record in India and can most likely draw vital curiosity from traders. The Softbank-backed agency plans to make use of proceeds from the providing primarily for the growth of its battery cell manufacturing facility within the southern state of Tamil Nadu. 

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