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OLA Electric IPO Allotment Finalization to Conclude on August 7th, 2024
Largest IPO in India Aims to Raise 6146 Crore
The allotment for the highly anticipated Ola Electric IPO is expected to be finalized on Wednesday, August 7th, 2024. The electric scooter maker is aiming to raise a staggering 6146 crore in what is set to be the largest initial public offering (IPO) in India's history.
Details of the Ola Electric IPO
The Ola Electric IPO consists of a fresh issue of up to 5500 crores and an offer for sale of up to 95 crores of equity shares. The issue price per share has been set at 825 rupees.
The proceeds from the IPO will be used to fund the company's expansion plans, including the development of new electric vehicles and the construction of manufacturing facilities.
Conclusion
The Ola Electric IPO is a major event in the Indian financial markets. The company's success in raising a record-breaking amount of capital is a testament to the growing demand for electric vehicles in India. The allotment finalization on August 7th will mark a significant milestone in Ola Electric's journey towards becoming a global leader in the EV industry.
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