Ola says it is the market leader in India in e-scooters, selling around 30,000 a month, priced around $1,600 each. India is one of the world's biggest automotive markets with a small but fast-growing EV segment. Reuters is the first to report details of Ola's planned investor meetings. BlackRock, GIC and T Rowe Price did not respond to Reuters' requests for comment. So Bhavish wants to take the extra time to create comfort for investors,' said the first source. 'EVs are still an emerging space and while there are some global parallels, it is an even newer story in India. Ola's founder and CEO Bhavish Aggarwal will travel to Singapore, United States and United Kingdom over the next two weeks, said the two sources, who declined to be named as the plans are confidential.Īggarwal plans to meet investors, including BlackRock, Singapore's sovereign wealth fund GIC, and mutual funds such as T Rowe Price, the first source said. With the IPO still some way off, Ola is embarking on investor meetings earlier than usual to explain the business potential of India's nascent EV market. The sources said Ola, which makes electric scooters and is backed by investors such as SoftBank and Temasek, has plans to raise between $600 million and $1 billion in its initial public offering (IPO), which is planned for late 2023.

MUMBAI (Reuters) - India's Ola Electric will hold talks next week with investors in Singapore and the United States on its planned stock market listing, the first of a series of meetings for its up to $1 billion IPO, two sources with direct knowledge said.

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