SoftBank-backed Ola Electric is expected to set a valuation of approximately $4.5 billion for its upcoming initial public offering (IPO). This represents a decrease of about 16-20% compared to its valuation in the last funding round, according to a report.
In June, the Indian markets regulator greenlit Ola’s $660 million stock market debut, marking the first IPO by an electric vehicle manufacturer in India. It is poised to become one of the country’s largest share offerings this year.
In Ola Electric’s previous funding round in September, led by Singapore’s investment firm Temasek, the company was valued at $5.4 billion. However, sources indicate this valuation is expected to decrease this time, reflecting a broader “recalibration” in global tech stock valuations.
The final valuation remains subject to change but is unlikely to reach the ambitious target of at least $6 billion that Ola Electric’s founder Bhavish Aggarwal had hoped for the IPO, sources were quoted.
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