In its last funding round of $384 Mn in October last year, led by Singapore’s investment firm Temasek, Ola Electric was valued at $5.4 Bn
While the final valuation is still subject to change, it is unlikely to reach CEO Bhavish Aggarwal’s $6 Bn target
Ola Electric filed its DRHP in December last year and received SEBI’s nod for the public issue last month
Electric vehicle (EV) maker Ola Electric
is reportedly likely to be valued at around $4.5 Bn for its upcoming IPO, a decline of 16-20% from its last funding round.
In its last funding round of $384 Mn in October last year, led by Singapore’s investment firm Temasek, Ola Electric was valued at around $5.4 Bn. However, Reuters cited a source as saying that this valuation is expected to drop due to a “recalibration” of tech stock valuations globally.
While the final valuation is still subject to change, it is unlikely to reach the $6 Bn target that Ola Electric’s founder, Bhavish Aggarwal, had hoped for the IPO, the report added citing sources.
Meanwhile, a source told Inc42 that the book building process is ongoing and the final valuation is yet to be determined. The company aims to price the IPO attractively, ensuring it offers value to investors. The reported figure is a close estimate, the source added.
Ola Electric filed its draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an INR 5,500+ Cr IPO in December last year. Last month, it received the regulator’s nod for the public issue.
(The story will be updated soon.)
