Indian e-scooter manufacturer Ola Electric has received regulatory approval for a $660 million Initial Public Offering (IPO), setting the stage for India’s first-ever EV stock listing. The company’s prospectus, which was filed with the Securities and Exchange Board of India (SEBI) last December, has now been approved. SoftBank and Temasek-backed Ola plans to list shares by mid-July and will reach out to potential investors in the coming days to gauge interest. Previously, the company held roadshows earlier this year to engage with global investors. Ola Electric is India’s leading e-scooter manufacturer, competing with companies like TVS Motor, Bajaj Auto, and Ather Energy. It was last valued at $5.4 billion in September 2023.

Electric Vehicles, Financial Services,India, Global