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Electric scooter manufacturing company Ola Electric has now become a public limited company. The company has made this change through corporate restructuring. It is necessary for any company to become a public limited company before launching an IPO. Let us tell you that Ola Electric is preparing to bring IPO.
Tata Technologies IPO created a ruckus in the gray market, 70 percent profit on the first day!
3200 crore fund
Ola Electric has changed its earlier name from Ola Electric Mobility Private Limited to Ola Electric Mobility Limited. Currently, Ola Electric has a 35 percent market share of electric vehicles. The company recently raised Rs. Funds of 3200 crores have been collected. Funders of the company also include SBI.
India’s first Lithium Oil Cell Center
The company will expand its electric vehicle business through this fund. Also, a lithium cell manufacturing facility will be set up in Krishnagiri, Tamil Nadu. This will be India’s first lithium ion cell manufacturing center. This total capacity will be 100 GWH. In the first phase it will be built with a capacity of 5 GWH.
Currently there are 5 products in the Ola Electric portfolio. The price of which is Rs 89,999 to Rs 1,47,499.