Upcoming IPO: If you also invest in the stock market through IPOs, this news will make you happy. Yes, electric two-wheeler manufacturer Ola Electric and pharmaceutical company Mecure Pharmaceuticals have received approval from the market regulator SEBI to launch an Initial Price Offering (IPO) for raising funds. According to information available on SEBI’s website, the draft documents related to the IPOs of both companies were approved on June 10.
Plan to issue new shares worth 5,500 crores (Upcoming IPO)
This simply means that both companies can now move forward with their respective IPOs. The proposed IPO of Ola Electric will not only issue new shares worth 5,500 crores but will also offer the sale of 9.52 crore equity shares held by promoters and investors. Bengaluru-based Ola Electric introduced its first EV two-wheeler model in August 2021. In addition to manufacturing electric two-wheelers, it also produces battery packs and motors for them.
The Upcoming IPO of pharmaceutical company Mecure Pharmaceuticals will issue new shares worth 800 crores along with the sale of 1.36 crore equity shares held by promoters. The funds raised from the IPO will be used for loan repayment and general corporate purposes.
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