Where are the equity shares of Ola Electric Mobility Ltd proposed to be listed?
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Ola Electric Mobility Ltd shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Ola Electric, one of India's largest EV two-wheeler manufacturers, is set to launch its IPO on August 2, 2024. The book-built issue is valued at ₹6,145.56 crores. Founded in 2017, Ola Electric emphasizes R&D, manufacturing, and distribution. Investors are eager to see how this IPO shapes the future of India's EV industry.
The business of Ola Electric is built on 3 pillars- R&D, manufacturing, and a well-established distribution network. This network includes 935 professional centres in India, out of which 450+ service centres. At present, it is one of the largest EV two-wheeler manufacturer in India. With Ola Electric IPO, there’s a lot of buzz about the company in the market.
The Ola Electric IPO is opening on 2nd August 2024. Continue reading this blog to gain detailed insights about the company, its risks, strengths and more. We’ll also explore the important dates for the Ola Electric IPO.
Incorporated in 2017, Ola Electric 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. The 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 manufactures EVs and various EV components including motors, battery packs and vehicle frames at the Ola Future factory 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 450+ service centres and 935 experience centres. The growing interest in the Ola Electric IPO is a testament to the company's innovative approach and market position.
The headquarters of Ola Electric 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.
On 22nd December 2023, Ola Electric filed a draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to launch its IPO. Ola Electric IPO is a public issue consisting of a fresh issue of equity shares aggregating up to ₹5,500 crore along with an Offer for Sale of up to 84,941,997 shares. The market's response to the Ola Electric IPO filing has been overwhelming so far. Here are the details:
IPO Date | August 2, 2024 to August 6, 2024 |
Listing Date | Friday, August 9, 2024 |
Face Value | ₹10 per share |
Price Band | ₹72 to ₹76 per share |
Lot Size | 195 Shares |
Total Issue Size | 808,626,207 shares |
Fresh Issue | 723,684,210 shares |
Offer for Sale | 84,941,997 shares of ₹10 |
Employee Discount | Rs 7 per share |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
Share holding pre issue | 3,687,072,258 |
Share holding post issue | 4,410,756,468 |
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. Investors are keen to see how the funds raised from the Ola Electric IPO will be utilised for future growth.
Now that you know the details of Ola Electric IPO, let’s check out the details about Ola Electric IPO dates.
The Ola Electric IPO will open on Friday, August 2, 2024, and close on Tuesday, August 6, 2024. The basis of allotment will be finalized on Wednesday, August 7, 2024, with the initiation of refunds and credit of shares to demat accounts on Thursday, August 8, 2024. The listing date is set for Friday, August 9, 2024. The cut-off time for UPI mandate confirmation is 5 PM on August 6, 2024. Mark these dates if you plan to invest in the Ola Electric IPO.
IPO Open Date | Friday, August 2, 2024 |
IPO Close Date | Tuesday, August 6, 2024 |
Basis of Allotment | Wednesday, August 7, 2024 |
Initiation of Refunds | Thursday, August 8, 2024 |
Credit of Shares to Demat | Thursday, August 8, 2024 |
Listing Date | Friday, August 9, 2024 |
Cut-off time for UPI mandate confirmation | 5 PM on August 6, 2024 |
The lot size for the Ola Electric IPO is designed to cater to various types of investors, from retail to high net-worth individuals (HNIs). These varied lot sizes ensure that both small and large investors can participate in the Ola Electric IPO according to their financial capabilities and investment strategies.
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 195 | ₹14,820 |
Retail (Max) | 13 | 2535 | ₹192,660 |
S-HNI (Min) | 14 | 2,730 | ₹207,480 |
S-HNI (Max) | 67 | 13,065 | ₹992,940 |
B-HNI (Min) | 68 | 13,260 | ₹1,007,760 |
Ola Electric's financial performance provides a crucial insight into its operational and growth trajectory, especially relevant for potential investors in the Ola Electric IPO.
Ola Electric's revenue increased by 88.42% and profit after tax (PAT) dropped by -7.63% between the financial year ending with March 31, 2024, and March 31, 2023. Despite a decline in net worth and rising borrowings, the financial data underscores the company's potential and growth, making the Ola Electric IPO an intriguing opportunity for investors who believe in the long-term prospects of the EV market in India.
Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
Assets | 7,735.41 | 5,573.17 | 5,395.86 | 2,112.64 |
Revenue | 5,243.27 | 2,782.70 | 456.26 | 106.08 |
Profit After Tax | -1,584.40 | -1,472.08 | -784.15 | -199.23 |
Net Worth | 2,019.34 | 2,356.44 | 3,661.45 | 1,970.62 |
Reserves and Surplus | -2,882.54 | -1,380.03 | -68.83 | 1,999.30 |
Total Borrowing | 2,389.21 | 1,645.75 | 750.41 | 38.87 |
To apply for the Ola Electric IPO, follow these steps:
Ola Electric IPO has some noticeable strengths. These are:
Apart from the strengths, there are also some risks Ola Electric IPO faces. Here are some important points posing a risk to the business of this company:
Ola Electric 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 IPO. 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. The Ola Electric IPO could be a turning point for the Indian EV industry, offering potential growth and returns for investors.
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Ola Electric Mobility Ltd shares will be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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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
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Link Intime India Private Limited has been appointed as the registrar of Ola Electric Mobility Ltd IPO
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The face value of Ola Electric Mobility Ltd IPO equity shares is Rs. 10 per share.
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To apply for the Ola Electric IPO through Bajaj Broking, log in to your trading platform, select the IPO, fill in the required details, and submit the application.
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The CEO of Ola Electric is Bhavish Aggarwal.
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The Ola Electric IPO will go live on August 2, 2024.
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The Ola Electric IPO opens on August 2, 2024, and closes on August 6, 2024.
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The issue size of the Ola Electric IPO is ₹5,500 crore, plus an Offer for Sale of up to 9.52 crore shares.
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'Pre-apply' allows investors to apply for the Ola Electric IPO before the official opening date, ensuring timely submission.
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After you successfully accept the e-mandate, the specified amount will be blocked by your bank, indicating your order has been placed. However, you will find out whether shares have been allotted to you on the allotment date, August 7, 2024.
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If you pre-apply for the Ola Electric IPO, your order will be placed on the IPO opening date, August 2, 2024.
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'Apply as regular' is for public investors, while 'apply as employee' is specifically for employees of Ola Electric, often with preferential terms.
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