Ola Electric, India’s top electric two-wheeler maker, has appointed Goldman Sachs and Kotak Mahindra Capital to manage a potential initial public offering (IPO) early next year, two people aware of the matter said.
Other investment banks including Axis Capital, Citi, ICICI Securities and JP Morgan are also keen on the IPO mandate, the people said on condition of anonymity.
The Bengaluru-based company is expecting a valuation of at least $10 billion, one of the people cited above said, even though banks are still working on a price discovery.
The planning of the public offering is still at an early stage, the person added.
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