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India’s Ola Electric has made a strong stock market debut, driven by investor enthusiasm for the company’s ambitious plans to dominate the global electric two-wheeler market, but analysts warn supply-chain issues and stiff competition may present roadblocks.
This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Like what you see? You can subscribe here.
Indian e-scooter maker Ola Electric said on Monday it aimed to raise $734 million in this year's biggest domestic IPO, with foreign investors eyeing the offering after the SoftBank-backed firm was valued at a sharply lower $4 billion.
NEW DELHI -- In the smoggy capital city of New Delhi, there is an increasing number of green-plated cars on the roads. These are electric vehicles and even outside of Delhi, they are gaining popularity.
BENGALURU -- Ola Electric is set to become the first electric vehicle manufacturer to list its shares in India after it gained regulatory approval for an initial public offering, but analysts said the company will need to show investors it can turn a profit amid mounting competition.