MUMBAI, Sept 20 Reuters India39;s Ola Electric plans to file regulatory papers for its up to 700 million IPO before the end of October as the escooter maker fasttracks its listing move, three people with direct knowledge said.

Backed by investors including Singapore39;s Temasek and Japan39;s SoftBank, Ola Electric was valued at 5.4 billion in a recent fund raising.

In an email to its bankers and lawyers on Sunday, an Ola Electric executive asked external advisers on the IPO including the investment banking units of India39;s Kotak and ICICI, as well as foreign banks including Bank of America and Goldman Sachs to give utmost priority to meet a fiveweek deadline, said the sources.

Ola Electric and Kotak did not respond to a request for comment while the other three banks declined to comment. The sources did not wish to be identified as the communication is internal.

Ola39;s IPO project is internally codenamed Project Himalaya, and the memo came with a request to bankers and lawyers do not plan any long leaves to ensure availability, said the sources.

IPObound Indian companies typically do not instruct senior bankers and lawyers to not take leaves, they said.

Once the IPO papers are filed, they will be reviewed by India39;s markets regulator who can also send queries, indicating any possible listing is still some months away.

Ola Electric is targeting IPO roadshows for early January or February, said one of the sources.

The company, India39;s market leader in…