OLA Electric is scheduled to hit the market on August 02, 2024 and close on August 06, 2024. OLA Electric plans to raise around ₹6,145.56 Cr through an IPO with a sale of up to 808,626,207 equity shares of ₹10 each. The Retail offered 10%, QIB Shares Offered 75%, HNI Shares Offered 15%.
Ola Electric Mobility Limited, established in 2017, specializes in manufacturing electric vehicles and essential components such as battery packs, motors, and vehicle frames at its Ola Futurefactory. Since its first EV model, the Ola S1 Pro, was delivered in December 2021, the company has launched several products, including the Ola S1, Ola S1 Air, Ola S1 X, and Ola S1 X+. On August 15, 2023, Ola Electric announced new models and a range of motorcycles, including Diamondhead, Adventure, Roadster, and Cruiser. As of October 31, 2023, the company operates an omnichannel distribution network in India, featuring 870 experience centers and 431 service centers.
In FY 2023, approximately 75% of India's two-wheeler exports were aimed at markets in Africa, Latin America, and Southeast Asia, while domestic supply of electric two-wheelers remained limited. The business model is built on three scalable platforms: an R&D and technology platform for in-house design and development of EV technologies, an adaptable production and supply chain platform, and a direct-to-consumer omnichannel sales platform. By March 31, 2024, the company employed 959 individuals, including 907 permanent staff and 52 freelancers, dedicated to research and development across product development, vehicle design, and software development.
OLA Electric IPO Details
OLA Electric IPO opens on August 02, 2024, and closes on August 06, 2024. The Listing date for OLA Electric IPO is on August 09, 2024. The price band for IPO is ₹72 to ₹76 per share and lot size of 195 Shares.
| IPO Date | August 02, 2024 to August 06, 2024 |
| Listing Date | August 09, 2024 |
| Price | ₹72 to ₹76 per share |
| Lot Size | 195 Shares |
| Issue Size | ₹6,145.56 Cr |
| Face Value | ₹10 per share |
OLA Electric IPO Tentative Timetable
OLA Electric opening date is August 02, 2024 and close date is August 06, 2024. The IPO allotment date is August 07, 2024. Therefund initiation of IPO is on August 08, 2024. The credit of shares in demat account is on August 08, 2024. The listing date is on August 09, 2024.
| Event | Date |
|---|---|
| IPO Opening | August 02, 2024 |
| IPO Closing | August 06, 2024 |
| IPO Allotment Date | August 07, 2024 |
| Refund Initiation | August 08, 2024 |
| Shares Credit to Demat | August 08, 2024 |
| Lisiting Date | August 09, 2024 |
OLA Electric IPO Lot Size
Lot Size of this IPO is 195 shares. A retail-individual investor can apply for up to 13 lots (2535 shares or ₹192,660).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 195 | ₹14,820 |
| Retail(Maximum) | 13 | 2535 | ₹192,660 |
| S-HNI (Minimum) | 14 | 2,730 | ₹207,480 |
| B-HNI (Minimum) | 68 | 13,260 | ₹1,007,760 |
OLA Electric IPO Promoter Holding
| Pre Issue Share Holding | 85.77% |
| Post Issue Share Holding |
OLA Electric IPO Review
Ola Electric Mobility Ltd. (OEML) is a rapidly emerging leader in the electric two-wheeler (E-2W) segment in India, aiming to expand its product portfolio to dominate this market. Despite its promising growth, the company has been incurring losses and may take some more time to achieve profitability. Given these negative earnings, the issue is priced at a negative P/E ratio. However, well-informed investors with a long-term perspective might consider investing moderately in this IPO.
Ola Electric Mobility Ltd. is a dedicated electric vehicle (EV) manufacturer in India, focusing on building vertically integrated technology and manufacturing capabilities for EVs and their components, including battery cells. The company operates the Ola Futurefactory, where it manufactures EV scooters and core components like battery packs, motors, and vehicle frames. Since its first product launch in August 2021, OEML has introduced seven products and announced four new ones. The company's flagship model, the Ola S1 Pro, was launched in December 2021, followed by several other models. OEML's rapid rise in the E-2W market is highlighted by its achievement of the highest revenue among Indian electric two-wheeler OEMs in Fiscal 2023 and becoming the best-selling E-2W brand within nine months of its first scooter delivery. The company's business model heavily focuses on in-house research and development (R&D) across India, the UK, and the US, with ongoing efforts to build a comprehensive EV hub in Tamil Nadu. This hub includes the Ola Futurefactory, the upcoming Ola Gigafactory, and co-located suppliers.
Despite its impressive market growth, Ola Electric Mobility Ltd. has been posting significant losses. For the fiscal years 2022, 2023, and 2024, the company reported total incomes of Rs. 456.26 crore, Rs. 2782.70 crore, and Rs. 5243.27 crore, respectively, with corresponding net losses of Rs. 784.15 crore, Rs. 1472.08 crore, and Rs. 1584.40 crore. The company's average EPS over these periods is Rs. -3.85, and the average RoNW is -63.62%. The IPO consists of a fresh equity share issue worth Rs. 5500 crore and an Offer for Sale (OFS) worth Rs. 645.56 crore, with a price band of Rs. 72-76 per share. The funds raised will be allocated for capex, debt repayment, research and development, and organic growth initiatives. Despite the ongoing losses, the company has not reported any data for PAT and RoCE margins, nor has it declared dividends for the reported periods. OEML's aggressive expansion plans include entering the E-2W bikes, three-wheelers, cars, and developing a global hub for EV batteries. While the company is currently operating at a loss, its strategic investments and expansions suggest a potential for long-term growth, making it a viable option for investors willing to commit for the long haul.
OLA Electric IPO Subscription Status (Bidding Details)
Table not foundOLA Electric IPO Broker Recommendations
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- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
OLA Electric IPO FAQs
What is OLA Electric IPO?
OLA Electric is issuing 808,626,207 equity shares with a face value of ₹10 each, totaling up to ₹6,145.56 Cr. The shares are being offered at a price of ₹72 to ₹76 each, with a minimum order quantity of 195 shares.
Link Intime India Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When OLA Electric IPO will open?
OLA Electric will open on August 02, 2024 for QIB, NII, and Retail Investors.
When OLA Electric IPO will end?
OLA Electric will end on August 06, 2024.
What is OLA Electric IPO Size?
OLA Electric IPO size is ₹6,145.56 Cr.
What is OLA Electric IPO Price Band?
OLA Electric price band is ₹72 to ₹76 per share.
What is the OLA Electric IPO Allotment Date?
OLA Electric allotment date is August 07, 2024.
What is the OLA Electric IPO Listing Date?
OLA Electric listing date is August 09, 2024. The IPO is to be listed on BSE and NSE.
How to OLA Electric IPO through Zerodha?
To apply for the IPO “OLA Electric” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply OLA Electric IPO through Upstox?
To apply for the IPO “OLA Electric” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check OLA Electric IPO Allotment Status?
For OLA Electric IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is OLA Electric IPO GMP?
You can check out here: OLA Electric IPO GMP