If you invest in the stock market through IPOs, this news will be exciting for you. Electric two-wheeler manufacturer Ola Electric and pharmaceutical company Emcure Pharmaceuticals have received approval from market regulator SEBI to launch Initial Public Offerings (IPOs) to raise funds. According to information on SEBI’s website, the draft documents for the IPOs of both companies were reapproved on November 10.
Plan to Issue New Shares Worth Rs 5,500 Crore
With SEBI approval now in place, both Ola Electric and Emcure Pharmaceuticals are moving forward with plans to launch their IPOs.
Ola Electric IPO
Ola Electric, the Bengaluru-based electric vehicle (EV) manufacturer, plans to raise significant capital through its proposed IPO. The company aims to issue new shares worth Rs 5,500 crore. Additionally, 9.52 crore equity shares currently held by promoters and existing investors will be available as part of the offer-for-sale (OFS) component, allowing shareholders to capitalize on the company’s growth.
Ola Electric, which launched its first electric two-wheeler model in August 2021, also produces critical EV components like battery packs and motors, helping it maintain a vertically integrated model and control production costs. The funds raised will likely aid Ola Electric’s expansion plans, enabling it to scale its EV production and enhance its technological capabilities in India’s growing EV market.
Emcure Pharmaceuticals IPO
Pharmaceutical company Emcure Pharmaceuticals, known for its diverse drug portfolio, also plans to issue new shares worth Rs 800 crore in its upcoming IPO. Additionally, 1.36 crore equity shares held by promoters will be offered in the OFS portion. The funds raised from the IPO will be allocated towards debt repayment and general corporate expenses, allowing Emcure to strengthen its financial position and operational capacity.
With a presence in both domestic and international markets, Emcure aims to leverage the funds to streamline its operations, reduce financial liabilities, and enhance its product offerings in the competitive pharmaceutical sector.
Both IPOs offer unique opportunities for investors interested in high-growth sectors. Ola Electric represents India’s expanding EV market, while Emcure Pharmaceuticals provides exposure to the resilient pharmaceutical industry, making them promising investment options once they hit the stock market.