Ola Electric Targets $734 Million in India's Largest IPO of 2024

The e-scooter giant's valuation drops 25% from last year to attract major investors in a booming stock market.

Ola Electric aims to raise funds through an IPO priced at 72-76 rupees per share.
The IPO will run from August 1 to August 6, with shares expected to start trading on August 9.
Major investors like Fidelity, Nomura, and Norges Bank are expected to participate.
The company plans to use proceeds for capital expenditure, R&D, and debt repayment.
Ola Electric leads India's e-scooter market with a 46% share despite recent sales goal adjustments.