Electric car maker to Bring IPO Soon
Electric car maker Company Omega Seiki Mobility is also preparing to list on the stock market through an initial public offering (IPO). The company will launch a $200-250 million IPO by the first quarter of the next financial year.
Uday Narang, founder of Electric car maker Company Omega Seki, said earlier the plan was to launch the IPO by March 2023, but now it has been delayed by a few months. “We are expanding our presence in the passenger segment apart from two, three and four wheelers. So we need to raise funds. Part of it is planned to be raised through IPO,” he added.
The size of the IPO is expected to be 200-250 million dollars. He also said that merchant bankers have been involved in the proposed proposals. Electric car maker Company Omega Seiki is part of the Anglian Omega Group. The company manufactures the M1KA without cargo, passenger electric vehicles. Apart from this, along with electric two-wheelers, it is also preparing to launch high-end trucks.
Electric car maker Company Omega Seki Mobility on Friday announced a partnership with Agri Junction to sell over 10,000 electric two-wheelers and three-wheelers in rural markets of the country by the end of this financial year. Giving this information in a statement, both the companies said that in the first phase, these electric vehicles will be launched in the second and third categories of markets.
Apart from the Faridabad-based Electric car maker Company OSM Electric Three Vehicles, it also manufactures small commercial vehicles. Apart from its three wheeler models Series Plus and Stream, the company will also bring electric two-wheeler vehicles Mopedo, Stream City and Drone and Tractor keeping in view the demand in rural markets.
Loan will also be available under Pradhan Mantri Mudra Yojana
Agri Junction, a digital market platform for agricultural products, will list OSM’s vehicles on its website as well as provide loans under the Pradhan Mantri Mudra Yojana to build electric vehicle (EV) infrastructure. OSM, on the other hand, will also be geared up to provide the EV, set up the charging infrastructure and introduce new products specifically for the rural markets.
