Ola Electric prices institutional portion of IPO at 76 rupees per share

Ola Electric has priced the institutional portion of its initial public offering (IPO) at 76 rupees ($0.9076) per share to raise $330 million, according to a term sheet.

The electric scooter maker plans to raise $734 million in the deal which will be the largest Indian IPO so far in 2024. The institutional portion of the IPO received bids worth more than $2 billion..