The homegrown ride-hailing service provider turned electric vehicle manufacturer filed preliminary IPO papers with SEBI back in December 2023 and has now obtained the regulator’s nod to float the public issue. According to the draft papers, proceeds from the fresh issue will be used for capital expenditure to be incurred by the subsidiary OCT for the Ola Gigafactory project, payment of debt by subsidiary OET, investment into research and product development, expenditure for organic growth…
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