Ola Electric and Emcure Pharmaceuticals Secure SEBI Nod for IPOs

Ola Electric Mobility and Emcure Pharmaceuticals have received approval from SEBI for their upcoming IPOs. Ola Electric plans to utilize the funds for expanding cell manufacturing, R&D, and debt repayment. Emcure Pharmaceuticals aims to use the proceeds for debt payment and corporate purposes.

In a significant development, Ola Electric Mobility and Emcure Pharmaceuticals have received the green light from SEBI for their upcoming IPOs, as per the latest update with the market regulator. This move will enable both companies to secure crucial funds for their respective future plans.

Ola Electric intends to use a substantial part of its Rs 5,500 crore IPO proceeds on expanding its cell manufacturing capacity and ramping up research and development. The company's plans detail the allocation of Rs 1,226.43 crore for the expansion of its cell manufacturing plant and Rs 1,600 crore for R&D on future technologies and products, alongside Rs 800 crore earmarked for debt repayment.

Emcure Pharmaceuticals, backed by Bain Capital, is also set to raise funds through a combination of fresh equity issuance and an offer for sale by existing stakeholders. The proceeds from this IPO will primarily be used to settle debts and for general corporate purposes, contributing to the company's financial stability and growth trajectory.

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