Khaitan & Co helps Ola Electric Mobility raise fund for e-vehicle project
The $100 million fund from Bank of Baroda will partly finance the first phase construction of the world's largest electric two-wheeler factory
It's all Indian that is bound to make the powers that be happy – an Indian law firm helping a home-grown Indian company raise funds from an Indian bank to part-finance construction the world's largest electric two-wheeler factory.
The law firm in question is Khaitan & Co, which advised Ola Electric Mobility in raising $100 million from the state-run Bank of Baroda (BoB) to partly finance the first phase of construction of the factory.
The manufacturing plant is being built in Tamil Nadu's Kishnagiri district and is expected to have an initial capacity of 2 million electric vehicles per year.
Ola, an Indian multinational ride-sharing company, has branched out in the manufacturing of electronic two-wheelers. It is ready to launch its vehicles in the market soon.
Khaitan & Co team that acted for Ola was led by Partner Smita Jha along with Senior Associate Shivanshu Puhan and Associate Riddhiman Sarkar.