SYDNEY (Reuters) – India’s Ola Electric has priced the institutional portion of its initial public offering (IPO) at 76 rupees ($0.9076) per share to raise $330 million, according to a term sheet seen by Reuters.
The electric scooter maker plans to raise $734 million in the deal which will be the largest Indian IPO so far in 2024.
The institutional portion of the IPO received bids worth more than $2 billion, Reuters reported on Thursday.
Bidding for retail investors and eligible employees opens on Friday and closes on Tuesday.
($1 = 83.7380 Indian rupees)
(Reporting by Scott Murdoch; Editing by Muralikumar Anantharaman)
