Stock Market LIVE Updates: Ola Electric expected to file IPO papers today, first Indian EV company to do so

Making it the first Indian EV maker to raise funds from public investors, Ola Electric, which makes electric-powered scooters and plans to enter the electric passenger car space, is likely to file IPO papers today. It would also be the first IPO by an automaker in the last two decades.Softbank-backed Ola Electric will file for IPO in next few hours with company's top management and bankers busy finalising details, ET Now reported, quoting sources. Kotak is the lead banker to Ola Electric while Goldman Sachs and Citi have also been appointed to handle the issue.The IPO, whose size is expected to be about Rs 8,500 crore, will include a combination of fresh equity and offers for sale by some of its existing investors, according to reports.