Khaitan & Co Advised SoftBank Vision Fund On Ola Electric IPO
Khaitan & Co Advised SoftBank Vision Fund on Ola Electric IPO
Khaitan & Co acted as the domestic Legal Counsel for SoftBank Vision Fund, one of the selling shareholders in the IPO of Ola Electric.
SoftBank-backed Ola Electric Mobility's shares rose 10% in their trading debut on Friday, August 9, 2024, valuing the company at ₹369.45 billion ($4.40 billion) after the first stock offering by a pure-play electric vehicle maker in India.
The company, whose share from the IPO was about $660 million, is planning to invest most of the proceeds in research and development and its battery cell manufacturing unit.
The Khaitan & Co deal team consisted of Partners Bharat Anand, Gautham Srinivas, Nidhi Killawala, Associates Abhishek Singh, Aiyushi Sahani, and Vanshika Chaudhry, with assistance from Partner Sathvik Ponnappa.
