India’s EV major OLA to raise $730 million with IPO

India’s homegrown electric two-wheeler manufacturer Ola Electric has filed its draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI), a media report. According to Moneycontrol, citing sources, the fresh issue component will consist of Rs 5,500 crore (approximately $730 million) and the balance would be the OFS (offer for sale) category, around Rs 1,750 crore (approximately $233 million).