Ola Electric to launch $734 million IPO, investors eye bids at lower valuation

Ola Electric targeted a $734 million raise in India's largest domestic IPO this year, with a $4 billion valuation. The IPO will issue new shares worth $657 million and offload $77 million from existing investors. The funds will support capital expenditure and R&D, as the company shifts focus from electric cars to e-scooters and potential electric motorcycles.