Priyanka Tiwari
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If you're someone who invests in the stock market through IPOs, there's some good news for you! Leading electric two-wheeler manufacturer Ola Electric and pharmaceutical giant Emcure Pharmaceuticals have received approval from SEBI (Securities and Exchange Board of India) to launch their Initial Public Offerings (IPOs). As per SEBI's website, the regulatory body cleared the draft documents for both companies on June 10, paving the way for their public listings.
Ola Electric’s IPO: Rs 5,500 Crore in Fresh Shares
Ola Electric’s upcoming IPO will include the issuance of new shares worth Rs 5,500 crore. Additionally, 9.52 crore equity shares held by the company’s promoters and investors will be available for sale.
The Bengaluru-based company, which launched its first electric two-wheeler in August 2021, has rapidly expanded its presence in the EV market. Besides manufacturing e-scooters, Ola Electric also develops battery packs and motors, positioning itself as a key player in India’s transition to electric mobility.
Emcure Pharmaceuticals’ IPO: Rs 800 Crore Fresh Issue
Emcure Pharmaceuticals, a well-known name in the pharmaceutical industry, plans to raise Rs 800 crore through the issuance of fresh shares. Along with this, 1.36 crore equity shares owned by promoters will be up for sale.
The funds raised through the IPO will primarily be used for loan repayment and general corporate purposes, strengthening Emcure’s financial position and operational efficiency.
What This Means for Investors
With SEBI’s approval in place, both companies can now proceed with their IPO plans. Investors looking for opportunities in the EV and pharmaceutical sectors may find these IPOs attractive, given Ola Electric’s strong presence in the growing electric mobility sector and Emcure Pharmaceuticals’ established reputation in the healthcare industry.
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