Ola Electric to Face Investor Pushback on IPO Valuation
- Ola Electric seeking to raise 55 billion rupees in new shares
- Company founder looking for a valuation as high as $7 billion
The electric scooters of Ola Electric Mobility in Bengaluru, India.
Photographer: Samyukta Lakshmi/BloombergThis article is for subscribers only.
Ola Electric Mobility Ltd., India’s largest electric scooter maker, is facing investor pushback on its targeted valuation for its upcoming initial public offering, according to people familiar with the matter.
The company’s founder has been aiming for a potential valuation of as much as $7 billion in a Mumbai listing, the people said, asking not to be identified as the information isn’t public. That would compare with a valuation of about $5 billion based on initial feedback from investors, the people said.