by Ola Electric, the electric scooter startup backed by SoftBank Group, is accelerating its plans to go public. The company had initially planned to list in 2024, but is now considering an IPO as early as 2023.
The decision to expedite the IPO comes as Ola Electric’s electric scooters have gained traction in India. The company has sold over 239,000 electric scooters since December 2021, and its market share is estimated to be around 38%.
Ola Electric’s IPO is expected to be one of the largest in India’s history. The company is valued at around $5 billion, and its IPO could raise over $1 billion.
The IPO will help Ola Electric to raise funds to expand its production capacity and develop new products. The company is also planning to enter new markets, such as Europe and the United States.
Here are some additional details about Ola Electric’s IPO plans:
- The company is considering an IPO as early as 2023.
- The IPO is expected to be one of the largest in India’s history.
- The IPO will help Ola Electric to raise funds to expand its production capacity and develop new products.
- The company is also planning to enter new markets, such as Europe and the United States.
