Akshata Sharma
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Ola Electric founder and CEO Bhavish Aggarwal will earn Rs 288 crore from the company's Rs 6,145.96 crore IPO.
The IPO, which will open on August 1 and close on August 6, has a price band of Rs 72-76.
The IPO consists of an offer for sale of up to 84.94 million shares and a new issue of Rs 5,500 crore. The offer for sale (OFS) is worth Rs 645.96 crore at the highest price range.
Presently, Aggarwal holds 1.36 billion shares, representing a 36.94% stake in the company. He is offering 37.9 million of his shares for sale, which is lower than the 47.4 million mentioned in the firm's Draft Red Herring Prospectus.
After Aggarwal, Softbank Vision Funds II is the single largest seller, offering 23.8 million of its shares.
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