Ola Electric Mobility is set to launch its initial public offering (IPO) on August 2, aiming to raise ₹5,500 crore in primary capital and ₹645.6 crore through an offer for sale, focusing on cell manufacturing and research and development. The company plans to enhance its battery cell manufacturing capacity at its Ola Gigafactory and aims to increase localization in its supply chain, which has seen a decline in reliance on imports from about 37% to 29%. However, the firm reported significant losses, incurring ₹1,584 crore in FY 2024 and acknowledging risks such as negative cash flow and a limited operating history. The IPO price band is set between ₹72 and ₹76 per share, which may lead to potential losses for some pre-IPO investors, despite significant gains for others like Tiger Global. Ola's CEO highlighted its commitment to making EVs more accessible, particularly in smaller towns and villages. This IPO marks a significant event as it is the first by an EV startup in India and is expected to attract considerable investor interest amid a surge in domestic IPO activity.