IPO

The IPO confirmed a hearing date had been set for 5 November.

Ola Electric has lost close to 70% of its value in the seven months since the IPO was launched.

The IPO has started looking into whether "criminals are to trying infiltrate supply chains" and is also concerned some fake goods could be "unsafe or dangerous".

The company became a publicly traded company in 2021, after delaying its original IPO in 2019 due to unstable market conditions.

The IPO and subsequent stock sales raised hundreds of millions of dollars, but little of the money went toward additional trials on Zolgensma, an analysis by KEI, the public advocacy group, concluded.