Bank of Baroda has provided funding aggregating to ₹616 crores to Ola Electric Technologies Private Limited for meeting the working capital requirements of the green field project for manufacturing two-wheeler vehicles.

Luthra & Luthra Partners advised BOB on the deal and assisted in structuring of the transaction, negotiating, finalization, and execution of the financing documents.

The team consisted of Girish Rawat (Partner), Varun Chauhan (Senior Associate), and Himanshi Bhadoria (Associate).

The influx of capital is intended to be used by Ola for manufacturing two-wheeler vehicles at Krishnagiri District, Tamil Nadu, with an initial capacity of 0.50 million vehicles per annum.

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