If you invest in the stock market through IPOs, here’s some exciting news.
Electric two-wheeler manufacturer Ola Electric and pharmaceutical company Emcure Pharmaceuticals have received approval from SEBI to launch their Initial Public Offerings (IPOs) to raise funds.
According to SEBI’s website, the draft documents related to the IPOs of both companies were approved on June 10.
Check the Details of the IPO below:
Ola Electric IPO:
New Shares: Ola Electric plans to issue new shares worth Rs 5,500 crore.
Shares for Sale: In addition to the new shares, 9.52 crore equity shares held by promoters and investors will be offered for sale.
Company Background: Bengaluru-based Ola Electric introduced its first electric two-wheeler model in August 2021.
Besides manufacturing electric two-wheelers, the company also produces battery packs and motors for these vehicles.
Emcure Pharmaceuticals IPO:
New Shares: Emcure Pharmaceuticals plans to issue new shares worth Rs 800 crore.
Shares for Sale: Along with the new shares, 1.36 crore equity shares held by the promoters will be offered for sale.
Use of Funds: The funds raised from the IPO will be used for loan repayment and general company operations.
Emcure Pharmaceuticals CEO is Namita Thapar.
Moving Forward
With SEBI’s approval, both Ola Electric and Emcure Pharmaceuticals are set to proceed with their IPOs.
This development provides investors with new opportunities to participate in the stock market and potentially earn returns from these promising companies.
