Ola Electric has secured $50 million in debt funding from EvolutionX Debt Capital through non-convertible debentures (NCDs) as part of its plans to raise $660 million for its upcoming IPO, offering 95.2 million equity shares. The company has also reported a record 115% year-on-year growth in FY24, registering 328,785 units, and retaining its market leadership. In March 2024 alone, Ola Electric topped the electric two-wheeler sales chart with 53,000 units, securing a 37% market share, significantly ahead of competitors like TVS Motors, Bajaj Auto, and Ather Energy.
#OlaElectric sees record #registrations in March; ends FY24 with 115% growth on year https://t.co/OX8vgQdXil
🚨 Today in Tech 3 One quick thing: India witnesses record-high electric two-wheeler sales in March 2024, IPO-bound Ola Electric grabs the top spot. Top 3; Namma Yatri drives into a solo lane Byju's salary snags amid investor dispute Beardo's Mane-agement changes
ETtech Top 5 | @Apple tops in blue-collar jobs; election merchandise now on #ecommerce ■ @OlaElectric’s record registrations in March ■ @BYJUS delays salaries yet again ■ @PocketFM_App closes first #Esop buyback https://t.co/HQG9gD3l9A
For March 2024, Ola Electric retained its top spot with highest registrations at 53,000 units commanding 37 per cent market share, followed by TVS Motors at 19.4 per cent, Bajaj Auto at 13.1 per cent, Ather Energy at 12.6 per cent, https://t.co/ZsMsqALvLl via @moneycontrolcom
SUC Headlines 📢 ➡️ Ola Electric raises $50mn in debt financing ➡️ Zomato gets tax demand order of Rs 23 crore ➡️ OpenAI unveils AI tech that recreates human voices ➡️ Amazon- backed XYXX unveils first ESOP buyback https://t.co/YQyjKXj8uq
SUC Headlines 📢 ➡️ Ola electric raises $50mn in debt financing ➡️ Zomato gets tax demand order of Rs 23 crore ➡️ OpenAI unveils AI Tech that recreates human voices ➡️ Amazon- backed XYXX unveils first ESOP buyback https://t.co/JUaRXOcOr0
🔴🛵Three big developments at #IPO-bound @OlaElectric—from funding and record sales to new product launch🧵 @CNBCTV18News @CNBCTV18Live #Ola #OlaElectric https://t.co/dYP3g5eGZq
🛵 @OlaElectric sees record registrations in #March; ends FY24 with 115% growth on year The company, headed for an initial public offering (IPO), also remains a market leader with 328,785 units registered in FY24. https://t.co/5v4qAfJNVk
#FundingWithYS💰 @OlaElectric secured $50 million in debt #funding from EvolutionX Debt Capital by issuing non-convertible debentures (NCDs). The company aims to raise $660 million through the #IPO, with a proposed offer for the sale of 95.2 million equity shares. by… https://t.co/LNNouDK5l8