A reading of the Bhavish Aggarwal-led company’s draft prospectus tells us that the bar for startups to list on the public markets has hit the floor. As a regulator, SEBI cannot afford to look the other way.
Ola Electric Mobility has taken the first step towards a public listing. The company, on 22 December, filed the draft red herring prospectus with market regulator Securities and Exchange Board of India to raise Rs 5,500 crore through a fresh issue of equity shares.
This is a momentous occasion on several counts. Here’s a four-year-old startup, which was spun out of cab-hailing company Ola (ANI Technologies) in 2019, knocking on the door of Dalal Street, a feat that usually takes companies almost twice as much time. It is also the first pure-play electric vehicle maker in India to file for …
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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