Ola Electric desperately seeks equity capital

Running low on reserves, Bhavish Aggarwal seems to be in a hurry to tap the public markets to feed his cash-guzzling EV business.

Ola Electric is in dire need of equity capital. So founder Bhavish Aggarwal, after shaking all the trees in the private market—venture capital, private equity, rights issue, even debt—has now come knocking on the public market. 

Last week, reports suggested that the company was preparing to file its draft IPO papers with the Securities and Exchange Board of India this week.

If it indeed clears all the hurdles and gets SEBI’s blessings, it would be a remarkable turnaround for the five-year-old company. The IPO would also be a landmark event for the startup ecosystem and automobile manufacturers. 

But there is …

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Pradip K. Saha

Pradip is a co-founder at The Morning Context and leads our newsletters vertical. He has previously worked at The Ken as a staff writer, at Mint as an assistant features editor and the Deccan Chronicle as a copy editor. He works with a slew of expert newsletter writers across subjects and domains. His own writing spans the gig economy, farmers caught in the crossfire of technology, global warming and parents trapped in the edtech wave. Some of his best stories have come at the intersection of technology and human endeavour.

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