India’s Ola Electric eyes $4.5b valuation for IPO

SoftBank-backed Indian electric scooter manufacturer Ola Electric is reportedly targeting a valuation of around $4.5 billion for its upcoming initial public offering (IPO).

This figure, according to sources with direct knowledge of the matter, falls short of the company’s valuation during its last funding round, representing a potential decrease of 16-20 per cent.

Ola Electric has yet to comment on the reported valuation.

Attribution: Reuters