Metro Observer Daily

Ola Electric Mobility Limited, the Bengaluru-based electric vehicle (EV) manufacturer, has announced the price band for its upcoming initial public offering (IPO). The shares will be offered at a price range of Rs 72–76 each, with the IPO set to open for subscription on August 2 and close on August 6. Investors can bid for a minimum of 197 shares and in multiples of 197 shares thereafter. The company will raise Rs 6,145 crore at the upper end of the IPO price band and Rs 6,111 crore at the lower end IPO Details . Price Band: Rs 72–76 per share . IPO Opening Date: August 2 . IPO Closing Date: August 6 . Minimum Bid: 197 shares At the upper end of the price band, Ola Electric aims to raise Rs 6,145 crore, while the lower end targets Rs 6,111 crore. The IPO will consist of a fresh issue of up to Rs 5,500 crore and an offer for sale (OFS) of up to 8.49 crore shares worth Rs 645 crore. There is also a reservation for eligible employees. Use of Proceeds According to Bhavish Aggarwal, Cha...

 In a major and much-awaited financial development, EbixCash Limited, a technology enabled provider of digital products and services with a leadership position in the B2C, B2B and financial technology arena through its integrated business model has filed its draft red herring prospectus (DRHP) with market regulator Sebi to raise Rs 6,000 crore via an initial public offering (IPO).  Here are top things to know about the EbixCash's Rs 6000 crore IPO:- 1- IPO, equity shares, face value and more The IPO comprises equity shares of face value of Re 1 each which is a complete fresh issue of shares and the entire proceeds will go to the company. The offer also includes a reservation for subscription by eligible employees. 2 - Rights Issue Additionally, the company, in consultation with the lead bankers to the issue may consider a further issue of equity shares including a rights issue aggregating up to Rs 1200 crore. If such placement is completed, the fresh issue size will be reduced...