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Ola IPO launch date expected in Q1 2022, cheaper Ola electric scooter expected ahead of IPO listing, Ola S1 delivery delays, and more revealed.
OLA is set for an IPO debut in Q1 2022. The company, founded in 2010 by Bhavish Aggarwal, plans to raise up to USD 1 billion through the IPO. Ahead of the company's listing in the National Stock Exchange of India, we have seen Ola expanding in leasing cars and manufacturing electric scooters.
Before the Ola IPO launch, the company is planning to release a cheaper electric vehicle in India, Yogesh tells 91mobiles. We recently saw a report that a cheaper Ola electric scooter is in the works. This new model is said to be more affordable than the Ola S1 that is priced at Rs 99,999. The upcoming Ola EV could be part of Series S and could launch between Rs 70,000 to Rs 80,000.
The Ola S1 and Ola S1 Pro electric scooters are expected to be delivered to early buyers this month. However, emails being sent out to early buyers suggests the delays in delivery are due to the global chip shortage. Yogesh Brar tells us that the actual reason for the delay is that Ola has been facing problems with state clearances.
Lastly, Yogesh has told 91mobiles that Ola is planning to enter the insurance and loan sector as well. Not much has been shared about this at the moment. But it looks like Ola has a lot planned in the coming months to strengthen its position ahead of the IPO.