According to two individuals with firsthand information, India’s Ola Electric will start talks next week with investors in Singapore and the United States about its potential stock market offering, the first of a series of meetings for its up to $1 billion IPO.
According to the sources, Ola, which develops electric scooters and is supported by investors such as SoftBank (9984.T) and Temasek, expects to raise between $600 million and $1 billion in its IPO, which is scheduled for late 2023.
Despite the fact that the IPO is still some time away, Ola is holding investor meetings earlier than normal to highlight the business prospects of India’s embryonic EV sector.