Electric two-wheeler maker Ola Electric and pharmaceutical company Emcure Pharmaceuticals have received approval from market regulator SEBI to launch an initial public offering (IPO) to raise funds. According to information available on the Securities and Exchange Board of India (SEBI) website, draft documents related to the IPO of both companies were approved on June 10. This means that both companies can now move forward with the launch of their respective IPOs.
IPO to be worth so many billions of rupees
In the proposed IPO of Ola Electric, apart from issuing new shares worth Rs 5,500 crore, 9.52 million shares held by promoters and investors will be put up for sale. Bengaluru-based Ola Electric introduced its first electric two-wheeler model in August 2021. Apart from manufacturing electric two-wheelers, it also makes batteries and motors for them.
In the initial public offering of pharmaceutical company Emcure Pharmaceuticals, apart from the issuance of new shares worth Rs 800 crore, 1.36 million shares held by the promoters will also be put up for sale. The amount raised in the IPO will be used for loan repayment and general functioning of the company.
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This company plan is until 2026.
You must have heard a lot about the Ola electric scooter, but Ola is also rapidly working on electric bikes. The Bengaluru-based electric vehicle company may launch its first electric bike in 2026. If all goes well, deliveries of Ola electric bikes will begin from 2026. The company has already unveiled the concepts of four different types of electric bikes at an event. electric bikes. If you want to buy Ola’s first electric bike, registration is open.
