Ola Electric IPO

Securities and Exchange Board of India (SEBI) has officially approved Ola Electric's #IPO to raise Rs 5,500 crore.
Proceeds from the IPO will be used to expand its cell manufacturing plant, fund research and development initiatives, and pay off existing debts.
In FY23, Ola Electric reported a consolidated #revenue of Rs 2,782 crore, with an annual growth rate of 510%. However, the company reported a loss of Rs 1,472 crore in the same financial year.

Credit: YourStory Media
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