MUMBAI, India — Ola Electric, the prominent Indian e-scooter manufacturer supported by SoftBank, is set to raise $734 million through its initial public offering (IPO), despite adjusting its valuation to $4 billion.
This IPO is poised to be the largest in India this year, reflecting a vibrant stock market climate where over 150 companies have collectively raised nearly $5 billion to date.
Ola Electric has established itself as a leading force in the Indian electric vehicle sector, a market where clean vehicle adoption remains relatively low. The company’s success has prompted a strategic shift among traditional two-wheeler manufacturers, highlighting its influence on the industry’s transition toward electric mobility.
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