People talk in front of the Ola Electric logo during a press conference ahead of it's IPO launch in Mumbai, India, July 29, 2024. REUTERS/Francis Mascarenhas/ File Photo
BENGALURU (Reuters) - Ola Electric's IPO drew $1.8 billion in bids as the share sale closed on Tuesday, as investors piled into the first stock offering by a pure-play electric vehicle maker in India.
The SoftBank-backed company's $734 million IPO, also India's biggest so far this year, received bids for 1.99 billion shares, about 4.3 times the number of shares on offer, exchange data showed.
