Ola Electric, India’s largest electrical two-wheeler maker, on Thursday obtained approval for its Rs 5,500 crore preliminary public providing (IPO) from the nation’s market regulator, the Securities and Exchange Board of India.

 

The difficulty will see present traders, together with founder Bhavish Aggarwal, promoting as much as 9,51,91,195 shares. Currently, Aggarwal is the most important shareholder with a 36.9 p.c stake, adopted by SoftBank’s SVF II Ostrich (DE) LLC with 22 p.c. According to the draft papers, Aggarwal plans to promote 4,73,94,014 shares, whereas SVF II will provide 2,38,57,268.

 

The firm will use the funds raised from the problem to broaden cell manufacturing capability, repay money owed, and help analysis and product improvement at its upcoming Giga manufacturing facility in Krishnagiri, Tamil Nadu.

 

Ola Electric sells three e-scooters—S1 Pro, S1 Air and S1 X—and has over 30 p.c share of India’s electrical two-wheeler section, the place it rivals manufacturers akin to Bajaj Auto, TVS Motor, Ather, and Hero MotoCorp. 

 

The firm can be arising with electrical bikes, with the primary mannequin anticipated within the first half of fiscal 12 months 2026. 

 

About six months in the past, Ola Electric had filed draft papers for the IPO with the regulator, which issued an statement letter on June 10.