Ola Electric has received approval from India’s market regulator, the Securities and Exchange Board of India (SEBI), to be listed on the country’s public stock exchanges.
The approval comes after India’s largest electric two-wheeler manufacturer filed its draft red herring prospectus (DRHP) with SEBI on December 22, outlining plans to raise up to Rs 5,500 crore through a fresh issue, in addition to offering 95.2 million shares for sale.
In a notification dated June 14, SEBI informed that it cleared Ola Electric’s DRHP on June 10, which has now been published on its website.
