Ola Electric has kicked off a plan to raise up to Rs 2,000 crore by selling a stake in its battery arm, Ola Cell Technologies (OCT), according to the sources. OCT owns the Tamil Nadu-based lithium-ion cell manufacturing plant with 1.5 GWh of operational capacity and plans to scale to 6 GWh by the end of this financial year. Investment bank Avendus and Motilal Oswal are mandated to run the fundraising process, sources said. The development comes amid Ola Electric's efforts to restructure operations and shore up its balance sheet as it works towards its business turnaround. The stake dilution plans will also determine the market valuation of a crucial battery infrastructure asset that has not yet been ascertained, sources said, adding that the asset's unique nature has attracted inbound interest from financial investors, including some leading sovereign wealth funds. The gigafactory, with an upfront investment of Rs 3,500 crore, marks a significant step toward localising battery cel