Ola Electric's new 4680 lithium-ion battery cells are displayed in a showcase ahead of the company's IPO launch in Mumbai, India, July 29, 2024. REUTERS/Francis Mascarenhas/ File Photo
BENGALURU (Reuters) -Ola Electric's $734 million initial public offering (IPO) was fully subscribed on the second day of bidding, reaching the target amid a sharp sell-off in global equity markets.
The SoftBank-backed company's IPO, the first by an electric vehicle maker in India and also the country's biggest this year, has received bids worth about $447 million, 1.06 times the shares on offer, exchange data showed on Monday.
