Ola Electric likely to drive in IPO at a lower valuation of $4.5 billion

Ola Electric, the SoftBank-backed electric vehicle (EV) maker, is likely to pursue a valuation of approximately $4.5 billion in its upcoming initial public offering (IPO), marking about 18 per cent decrease from its last funding round valuation of around $5.5 billion, according to industry sources.

The Bhavish Aggarwal-founded firm aims…