Day: July 24, 2024

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Market News Reports

Ola Electric is expected to go public for $740 million in August, with a valuation objective of $4–4.25 billion.

The much-awaited initial public offering (IPO) of Bhavish Aggarwal’s Ola Electric, supported by Japanese financial giant Softbank, might happen as early as the first two weeks of August.

For the domestic car industry, the proposed listing—the first by an Indian EV two-wheeler—would be historic and inspire competitors like Ather Energy to take value-unlocking strategies into consideration.

“The firm is looking to raise around $740 million via a combination of a fresh issue and an offer for sale and is targeting a post-money valuation between $4-4.25 billion,” 

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Market News Reports

Modi government may relax restrictions on some chinese investments.

According to two government sources, India is expected to loosen limits on Chinese investment in non-sensitive industries like solar panels and battery manufacture, where New Delhi lacks experience and which promotes local manufacturing.

2020: Amidst military concerns along the distant Himalayan frontier, India increased its inspection of investments from Chinese enterprises. According to one of the officials, who wished to remain anonymous, the government intends to remove areas from government oversight that it believes are less sensitive from a security standpoint for Chinese investment.

The plans mark a first step in improving economic ties between the two neighbors, a relationship that worsened after border clashes in 2020. The official said restrictions on Chinese investments in sectors such as electronics and telecom would continue. The prime minister’s office, foreign, finance, home and trade ministries did not respond to requests for comment.