Ola Electric has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi). The company is looking to raise up to Rs 5,500 crore through fresh issue of shares, with an offer-for-sale (OFS) component of 95.2 million shares.
The company’s founder and CEO Bhavish Aggarwal will sell up to 47.4 million shares in the IPO, with other selling shareholders being Matrix Partners, Tiger Global, SoftBank Vision Fund, Alpha Wave Global and Tekne Private Ventures.
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