India's Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak - source

FILE PHOTO: A man checks his mobile phone as he waits while recharging his Ola electric scooter at an electric vehicle charging station in New Delhi, India, February 12, 2022. REUTERS/Aditi Shah

MUMBAI (Reuters) -India's Ola Electric is planning a stock market listing by the end of 2023, and has appointed investment bank Goldman Sachs and domestic bank Kotak to manage the share sale, a source with direct knowledge of the matter told Reuters.

Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.