Linklaters advises on Ola Electric Mobility’s IPO, one of the largest in India this year Linklaters advised a syndicate of eight banks on the US$730m IPO of Ola Electric Mobility Limited (Ola Electric), India’s largest electric two-wheeler manufacturer.
This transaction marks:
- one of the largest IPOs in India this year;
- the first IPO by an electric vehicle (EV) manufacturer in India; and
- the first IPO by an auto maker in India in 20 years.
Founded in 2017, Ola Electric specialises in the production of EVs, building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells.
The book running lead managers in this transaction included Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited and BOB Capital Markets Limited.
The IPO generated significant interest and received strong demand from domestic and international investors.
The Linklaters team was led by Partner and Head of India Practice Amit Singh, with support from counsel Joseph Wolpin and associate Rushil Oberoi.
Linklaters has an established reputation as the leading Indian capital markets practice, offering technical expertise and commercial awareness to create novel solutions. With one of the largest teams of any firms focused on the India market, the firm has worked on several high-profile equity offerings across various sectors, including the recent qualified institutional placement of Vedanta and the JSW Infrastructure IPO.
