Ola Electric IPO Details: The date for the Ola Electric IPO has been set. The offering will open on August 2 and close on August 6. Ola Electric aims to raise approximately ₹6,145.56 crores through this IPO, which includes a fresh issue of ₹5,500 crores and an offer for the sale of up to 84,941,997 equity shares priced at ₹10 each. The allocation for retail investors is 10%, for Qualified Institutional Buyers (QIB) is 75%, and for High Net-worth Individuals (HNI) is 15%.
About Ola Electric
Ola Electric is a leading player in India’s electric vehicle (EV) industry, focusing on developing vertically integrated technology and manufacturing capabilities for EVs and their components, including battery cells. The company produces EVs and key components such as battery packs, motors, and vehicle frames at the Ola Futurefactory. Ola Electric is dedicated to leveraging the electrification of mobility in India and is exploring opportunities to export its EVs to select international markets in the future.
Product Launches and Milestones
Since announcing their first product in August 2021, Ola Electric has delivered four models and announced six additional products. The company began delivering the Ola S1 Pro, its first EV model, in December 2021, followed by the Ola S1 in September 2022, the Ola S1 Air in August 2023, and the Ola S1 X+ in December 2023. On August 15, 2023, Ola Electric unveiled new models, including the Ola S1 X (2 kWh) and Ola S1 X (3 kWh), alongside a lineup of motorcycles: Diamondhead, Adventure, Roadster, and Cruiser. The company plans to start delivering the Ola S1 X models by the first half of Fiscal 2025 and the motorcycles in the first half of Fiscal 2026.
Market Leadership and Innovation
In Fiscal 2023, Ola Electric achieved the highest revenue among Indian-incorporated electric two-wheeler (E2W) original equipment manufacturers (OEMs) from E2W sales, according to the Redseer Report. Within nine months of delivering their first EV scooter in December 2021, Ola Electric became India’s best-selling E2W brand based on monthly E2W registrations on the VAHAN Portal of the Ministry of Road Transport and Highways, as reported by Redseer. Research and development (R&D) and technology are central to Ola Electric’s business model, with a strong emphasis on in-house product innovation.
Ola Electric IPO Objectives:
The company proposes to utilise the Net Proceeds towards funding the following objects:
- Capital expenditure to be incurred by its Subsidiary, OCT for expansion of the capacity of its cell manufacturing plant from 5GWh to 6.4 GWh, classified as phase 2 under the expansion plan(the “Project”);
- Repayment or pre-payment, in full or part, of the indebtedness incurred by its Subsidiary, OET;
- Investment into research and product development;
- Expenditure to be incurred for organic growth initiatives; and
- General corporate purposes.
Ola Electric IPO Review (Apply or Not)
- Update soon
Ola Electric IPO Date & Price Band Details:
| IPO Open: | August 2, 2024 |
| IPO Close: | August 6, 2024 |
| IPO Size: | Approx ₹6145.56 Crores, 808,626,207 Equity Share |
| Fresh Issue: | Approx ₹5500 Crores, 723,684,210 Equity Share |
| Offer for Sale: | Approx ₹645.56 Crores, 84,941,997 Equity Share |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹72 to ₹76 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 10% |
| QIB Quota: | 75% |
| NII Quota: | 15% |
| Discount: | N/A |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Ola Electric IPO Lot Size:
The minimum market lot for the Ola Electric IPO consists of 195 shares, requiring an application amount of ₹14,820. Retail investors can apply for up to 13 lots, which equates to 2,535 shares or an investment of ₹192,660.
| Application | Lot Size | 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 Timeline:
The Ola Electric IPO will open on August 2 and close on August 6. The allotment of shares will be finalized on August 7, and the IPO is expected to be listed on August 9.
| IPO Open Date: | August 2, 2024 |
| IPO Close Date: | August 6, 2024 |
| Basis of Allotment: | August 7, 2024 |
| Refunds: | August 8, 2024 |
| Credit to Demat Account: | August 8, 2024 |
| IPO Listing Date: | August 9, 2024 |
Ola Electric IPO GMP Today:
The latest Grey Market Premium (GMP) for the Ola Electric IPO is ₹12.50. With a price band of ₹76.00, the estimated listing price for Ola Electric IPO is ₹88.50 (cap price + today’s GMP). This represents an expected gain of 16.45% per share.
Ola Electric Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2022 | ₹456.26 | ₹1173.81 | ₹784.15 |
| 2023 | ₹2782.70 | ₹3883.38 | ₹1472.08 |
| 2024 | ₹5243.27 | ₹6277.41 | ₹1584.40 |
Ola Electric IPO Valuation – FY2024
Check Ola Electric IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | -₹4.35 per Equity Share |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | -78.46% |
| Net Asset Value (NAV): | ₹5.54 per Equity Share |
Peer Group
- TVS Motors
- Eicher Motors
- Bajaj Auto
- Hero MotoCorp
Company Promoters
- Bhavish Aggarwal
Ola Electric IPO Registrar
Link Intime India Private Limited
Tel: +91 810 811 4949
E-mail: olaelectric.ipo@linkintime.co.in
Website: www.linkintime.co.in
Ola Electric IPO Allotment Status Check
Check Ola Electric IPO allotment status on Linkintime website allotment URL. Click Here
Ola Electric IPO Lead Managers aka Merchant Bankers
- Kotak Mahindra Capital Company Limited
- Bofa Securities India Limited
- Axis Capital Limited
- SBI Capital Markets Limited
Company Address
Ola Electric Mobility Limited
Regent Insignia, #414, 3rd Floor,
4th Block, 17th Main, 100 Feet Road,
Koramangala, Bengaluru 560 034, Karnataka
Tel: +91 80 3544 0050
E-mail: ipo@olaelectric.com
Website: www.olaelectric.com
Ola Electric IPO FAQs
1. What are the dates for the Ola Electric IPO?
The Ola Electric IPO will open on August 2, 2024, and close on August 6, 2024. The allotment of shares will be finalized on August 7, 2024, and the IPO is expected to be listed on August 9, 2024.
2. What is the minimum lot size for the Ola Electric IPO?
The minimum lot size for the Ola Electric IPO is 195 shares, with an application amount of ₹14,820.
3. How many lots can retail investors apply for?
Retail investors can apply for up to 13 lots, which totals 2,535 shares or an investment amount of ₹192,660.
4. What is the price band for the Ola Electric IPO?
The price band for the Ola Electric IPO is ₹76.00 per share.
5. What is the Grey Market Premium (GMP) for the Ola Electric IPO?
As of July 29, 2024, the GMP for the Ola Electric IPO is ₹12.50.
6. What is the estimated listing price for the Ola Electric IPO?
With a price band of ₹76.00 and the current GMP of ₹12.50, the estimated listing price is ₹88.50 per share.
7. What is the expected percentage gain or loss per share?
The expected percentage gain per share, based on the estimated listing price, is 16.45%.
8. What is the allocation structure for the Ola Electric IPO?
The IPO allocation is as follows: 10% for retail investors, 75% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs).
9. Where can I find more information about the IPO?
For detailed information about the Ola Electric IPO, including the prospectus and application process, visit the official website of the stock exchange or consult your financial advisor.
10. How can I apply for the Ola Electric IPO?
You can apply for the IPO through your broker or trading account, following their application procedures. Make sure to check the specific instructions and deadlines provided by your broker.
