Bengaluru-based Ola Electric Mobility, a EV player in India building vertically integrated technology and manufacturing capabilities for EVs and EV components, fixed the price band of Rs 72 to 76 per equity share for its maiden initial public offer.
The initial public offering (IPO) of the company will open on Friday, 02 August for subscription and close on Tuesday, 06 August. Investors can bid for a minimum of 195 equity shares and in multiples of 195 equity shares thereafter.
The IPO consists of fresh issue of equity shares aggregating up to Rs 55,000 million and an offer for sale (OFS) of up to 84,941,997 equity shares by the promoter selling shareholder, the promoter group selling shareholder and the investor selling shareholders. The offer also includes a reservation for eligible employees.
Kotak Mahindra Capital Company, Citigroup Global Markets India, BofA Securities India, Goldman Sachs (India) Securities, Axis Capital, ICICI Securities, SBI Capital Markets, and BOB Capital Markets are the book running lead managers and Link Intime India is the registrar to the offer.
The equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
