Ola Electric plans ₹2,000 crore stake sale in battery unit
after close1 source ↓written by the desknot a recommendation
- by selling
- ₹2,000 crore
- current capacity
- 1.5 GWh
- by the end
- 6 GWh
Ola Electric aims to raise up to ₹2,000 crore by selling a stake in its battery arm, Ola Cell Technologies (OCT). The Tamil Nadu-based facility has a current capacity of 1.5 GWh, with plans to expand to 6 GWh by the end of this financial year. Investment banks Avendus and Motilal Oswal are overseeing the fundraising process.
This stake sale is crucial for determining the market valuation of OCT, which has garnered interest from several financial investors, including sovereign wealth funds. The move is part of Ola's broader strategy to restructure operations and strengthen its balance sheet.
Not investment advice. For informational purposes only.