Ola Electric Mobility Limited IPO Details

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The business of Ola Electric company is built on 3 pillars- R & D, manufacturing, and a well-established distribution network. This network takes into consideration 935 professional centres in India, out of which 414 are service centres. At present, it is the largest EV two-wheeler manufacturer in India. 

Now, Ola Electric Mobility Ltd is planning to launch its IPO with SEBI. But, it will need to wait for the market regulator’s approval. Continue reading this blog to gain detailed insights about the company, its risks, strengths and more. 

About Ola Electric Mobility Limited 

Incorporated in 2017, Ola Electric Mobility Limited is one of the largest mobility platforms operating successfully in India. The company operates in over 250 cities including Australia, India, the UK, New Zealand and more. Ola app offers a wide variety of vehicles ranging from cabs, and bikes to auto rickshaws and metered taxis. Because of its transparency and convenience, the company has a record of holding a large customer base with more than 1.5 million customers throughout. 

Ola Electric Mobility Ltd manufactures EVs and various EV components including motors, battery packs and vehicle frames at the Ola Futurefactory in Tamil Nadu. The business looks for opportunities that arise out of the electrification of mobility in India. Additionally, the company is looking for ways to export its EVs to selected international markets in the future. Four products have already been delivered and the launch of an additional six new products was announced in August 2021. 

The company has R&D centres in India, the US and the UK, where it develops motors, battery packs and other EV components for its own products. The company is at the forefront of two-wheeler EV technology in India, which allows it to optimise production speed and costs. Furthermore, Ola Electric operates a D2C (direct-to-consumer) distribution model through 414 service centres and 935 experience centres. 

The headquarters of Ola Electric Mobility Ltd is in Bangalore. The promoters of the company are Ankit Bhati and Bhavish Aggarwal. The company’s founder is known for being one of the most influential entrepreneurs in India who came up with the idea of Ola Cabs. 

Ola Electric Mobility IPO Details and Objectives

On 22nd December 2023, Ola Electric Mobility Limited filed a draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to launch its IPO. The public issue consists of a fresh issue of equity shares aggregating up to Rs. 5,500 crore along with an Offer for Sale of up to 9.52 crore shares. 

The company aims to utilise the net proceeds towards capital expenditure, repaying debt or prepayment, making proper investments in research and product development, general corporate expenses, expenditure for organic growth initiatives and more. This will indeed be the first IPO an Indian electric vehicle maker has made. 

The founder of Ola Electric, Bhavish Aggarwal has contributed around 47.4 million shares, as mentioned in DRHP. Not only this, he has also invested an amount aggregating to Rs. 45 lakhs in an EV-based startup located in Pune. Ola Electric has yet to announce its IPO opening and closing dates; it is currently awaiting SEBI’s approval for its IPO.

Also Read: Tips for investing in an IPO


Ola Electric Mobility Ltd has some noticeable strengths. These are:

  • Ola Electric Mobility Ltd holds a leading position in the rapidly growing Indian E2W market. By fiscal year 2028, the company expects to reach 41-56% of the 2W sales volume. This is a purely EV company and its technology mainly focuses on engineering, manufacturing and building up EV products.
  • The Ola Futurefactory has an installed capacity of one million units. The manufacturing unit remains equipped with modular assembly lines along with an in-house paint shop.
  • The company follows a D2C distribution model. This thereby enables them to stay connected with customers and collect necessary feedback, taking into consideration proper development and upgradation of products.
  • Ola Electric’s management consists of a diverse team of professionals who participate in the formulation of effective business strategies. Along with this, the experienced professionals hold experience in a wide range of industries and functions along different research centres, thereby operating the business effectively.

Risks Involved

Apart from the strengths, there are also some risks Ola Electric Mobility Ltd IPO faces. Here are some important points posing a risk to the business of this company:

  • There is a lack of clarity in government regulations in the taxi service sector. The rules and regulations keep on changing and impose a threat to cab service providers.
  • It becomes extremely difficult to control the actions of Ola cab drivers due to the business model it follows. Drivers play an important role towards OLA’s brand image. Any kind of misbehaviour with the consumers harms OLA’s reputation. 


Ola Electric Mobility Ltd IPO presents an attractive opportunity for investment in the evolving EV market of India. This thereby makes it easier for investors to get a clear understanding of the current and future aspects of Ola Electric. Not only this, they can also proceed with proper financial planning in the future. 

Before you plan to invest in an IPO, take a close look at the business of the company, issue details, objectives, price band, strengths and risks involved as mentioned earlier. 

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Frequently Asked Questions

Where are the equity shares of Ola Electric Mobility Ltd proposed to be listed?

Answer Field

Ola Electric Mobility Ltd shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). 

Who are the book-running lead managers of Ola Electric Mobility Ltd IPO?

Answer Field

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Goldman Sachs Securities Private Limited, Axis Capital Limited, BofA Securities India Limited, SBI Capital Markets, BOB Capital Markets Limited, and ICICI Securities Limited are the book-running lead managers of Ola Electric Mobility Ltd IPO

Who is the registrar of Ola Electric Mobility Ltd IPO?

Answer Field

Link Intime India Private Limited has been appointed as the registrar of Ola Electric Mobility Ltd IPO

What is the face value of Ola Electric Mobility Ltd’s IPO?

Answer Field

The face value of Ola Electric Mobility Ltd IPO equity shares is Rs. 10 per share.

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