Ola Electric plans ₹2,000 crore stake sale in battery arm
after close1 source ↓written by the desknot a recommendation
- by selling
- ₹2,000 crore
- capacity
- 1.5 GWh
- by the end
- 6 GWh
Ola Electric aims to raise ₹2,000 crore by selling a stake in its battery subsidiary, Ola Cell Technologies. This move is part of the company's strategy to enhance domestic battery manufacturing and energy storage capabilities. The stake sale is being managed by Avendus Capital and Motilal Oswal Financial Services. 📈
The battery arm currently operates at 1.5 GWh capacity, with plans to scale up to 6 GWh by the end of the financial year. This expansion is crucial for strengthening the company's balance sheet and operational efficiency.
Not investment advice. For informational purposes only.