Ola Electric IPO opens. Should you subscribe to the biggest issue this year?

The initial public offer (IPO) of Ola Electric has opened for subscription. The issue, which comprises a fresh equity sale of Rs 5,500 crore and an offer for sale (OFS) of 8.4 crore shares, closes on August 6.

Under the OFS, founder Bhavish Aggarwal will offload 37.9 million shares in the IPO, the documents disclosed. The firm’s investors Alpha Wave, Alpine, DIG Investment, Matrix, and others will also be selling 47.89 million shares.