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Ola Electric's IPO Shine Fades In Just 9 Months, Now It Needs New Capital - Here's Why

OutlookIndia · 2d

Ola Electric secured board approval to raise up to Rs 1,700 crore through debt instruments, just nine months post-IPO. Facing challenges like declining market valuation and competition, Ola aims to bolster finances. The company plans to issue non-convertible debentures and other securities, amid investor valuation cuts and regulatory scrutiny over sales reporting discrepancies. Ola's market share and financial performance have declined, prompting this fundraising to support expansion and operational needs.