Ather Energy, which specialises in electric scooters, is aiming to use the proceeds from the IPO to establish a new electric two-wheeler factory in Maharashtra
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The amounts involved in these deals are said to be substantial for individual investors, though specific figures have not yet been revealed
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The IPO proceeds will be used for setting up new modern stores, sales and marketing incentives, investing in its subsidiary Digital Age, and more. Funds will also go towards paying leases for existing stores, setting up warehouses, and expanding to Saudi Arabia
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Ola Electric's last funding round in September, led by Singapore's investment firm Temasek, valued the company at USD 5.4 billion
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The company plans to sell a stake of up to 17.5 per cent
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