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Bhavish Aggarwal compares Ola's upcoming IPO with that of Maruti's 20 years ago

Economic Times · 1y

Bhavish Aggarwal, CEO of Ola, likened the upcoming IPO of Ola Electric to Maruti Suzuki's transformative market debut. Aggarwal stated that Ola Electric has submitted the final observations for its IPO, with SEBI's approval granting it the ability to issue shares worth Rs 5,500 crore and a follow-on-offer (OFS) worth Rs 1,750 crore, totaling a Rs 7,250 crore IPO size. The IPO is currently undergoing regulatory processes, and Aggarwal expects final approval and completion by the end of the year. Ola Electric's IPO is anticipated to be one of the most significant in India's tech-driven economic landscape.