Ola Electric Mobility has approved a qualified institutional placement, setting a floor price of ₹37.74 per equity share.
The company is pursuing the fundraising to strengthen its position amid slowing sales and market share challenges in the electric two-wheeler sector. The QIP follows a recent ₹2,000 crore investment into its subsidiaries aimed at improving localization and vertical integration.
Ola Electric and founder Bhavish Aggarwal have filed to settle allegations from India's market regulator regarding misleading statements on business performance.
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SBI Funds Management has set its initial public offering price band at ₹545 to ₹574 per share. The public issue, structured as an offer for sale, opens for subscription on July 14. The pricing comes at a notable discount to the company's unlisted market value.
Maharashtra State Electricity Distribution Co has named eight investment banks to handle its planned initial public offering. The move paves the way for the first IPO by the Maharashtra government and any state-run power distributor in India.
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Kusumgar is preparing a ₹650 crore offer for sale in its initial public offering. The move will lower the promoter holding to 75.4 percent. The engineered fabrics maker reports strong profit margins relative to listed competitors.