A spokesperson of Ola Electric said that 8,206 of its escooters have been registered under ANI Technologies for the latter’s ebike, parcel and other delivery services
The related party transactions were not mentioned in Ola Electric’s DRHP, filed last month with SEBI for raising over INR 7,000 Cr through IPO
The number of escooters sold to ride hailing major Ola Cabs’ parent and its subsidiaries between April 2022 and December 2023 can be even higher – at least 12,000 units
Bhavish Aggarwal-led emobility major Ola Electric reportedly sold over 8,200 scooters to its promoter group entity ANI Technologies, which relaunched Ola bike taxi services in Bengaluru in the latter half of last year, between April 2022 to December 2023.
However, the company didn’t mention the related party transactions in its DRHP for an IPO of over INR 7,000 Cr, filed at the end of December last year. The draft papers carried Ola Electric’s financial statements till June 30, 2023.