Oil prices climb as investor risk appetite grows
Oil prices climbed on Monday, reversing some of Friday’s losses, as investors focused on a tight global supply outlook and a last-minute deal that avoided a U.S. government shutdown restored their risk appetite.
Brent December crude futures rose 18 cents, or 0.2%, to $92.38 a barrel by 0037 GMT after falling 90 cents on Friday. Brent November futures settled down 7 cents at $95.31 a barrel at the contract’s expiry on Friday.
U.S. West Texas Intermediate crude futures gained 23 cents, or 0.3%, to $91.02 a barrel, after losing 92 cents on Friday.
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Both benchm…
Ola Electric anticipated to launch anchor book for its IPO on Aug 1- Reports
Ola Electric owned by Bhavish Aggarwal is preparing to launch the anchor book for its highly anticipated IPO on August 1, with the issue expected to open for public subscription between August 2 and August 6, Moneycontrol reported. As per the projected timeline, the firm will likely be listed on August 9, making it the first Indian EV two-wheeler to drive into Dalal Street.
On July 24, it was reported that Ola Electric plans to raise approximately $740 million through a combination of a new issuance and an offer for sale, with a post-money valuation of $4 billion to $4.25 billion. The company competes with TVS Motors, Bajaj Auto, and Ather Energy.
Additionally, Ola Electric has submitted its draft red herring prospectus (DRHP) to the market regulator SEBI on December 22, 2023. The investment banks involved in the sale include Kotak Mahindra Capital, Axis Capital, Goldman Sachs, ICICI Securities, Citi, BofA Securities, SBI Caps, and BoB Caps. The company couns…