OLA Electric IPO -2024 , Date , Price, GMP , Reviews , Details

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OLA Electric IPO

OLA Electric IPO

The OLA Electric IPO is a Rs 6,145.56 crore book built issue. The issue include an offer for the sale of 8.49 crore shares, valued at Rs 645.56 crore, and a fresh issue of 72.37 crore shares, totalling Rs 5,500.00 crores.The subscription period for the OLA Electric IPO begins on August 2, 2024, and ends on August 6, 2024. On Wednesday, August 7, 2024, the allotment for the OLA Electric IPO is expected to be completed. The proposed listing date for the OLA Electric IPO is set for Friday, August 9, 2024 on the BSE and NSE.The price range for OLA Electric’s IPO is 72–₹76 per share. 195 Shares is the minimum lot size required for an application.

OLA Electric IPO Details

IPO DateAugust 2, 2024 to August 6, 2024
Listing Date9 August
Face Value₹10 per share
Price Band₹72 to ₹76 per share
Lot Size195 Shares
Total Issue Size808,626,207 shares
(aggregating up to ₹6,145.56 Cr)
Fresh Issue723,684,210 shares
(aggregating up to ₹5,500.00 Cr)
Offer for Sale84,941,997 shares of ₹10
(aggregating up to ₹645.56 Cr)
Employee DiscountRs 7 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue3,687,072,258
Share holding post issue4,410,756,468

OLA Electric IPO Timeline (Tentative Schedule)

IPO Open DateAugust 2, 2024 , Friday
IPO Close DateAugust 6, 2024 , Tuesday,
Basis of Allotment August 7, 2024 ,Wednesday
Initiation of RefundsAugust 8, 2024 , Thursday
Credit of Shares to DematAugust 8, 2024 , Thursday
Listing DateAugust 9, 2024 , Friday
Cut-off time for UPI mandate confirmation5 PM on August 6, 2024

OLA Electric IPO Lot Size

Investors can bid for a minimum of 195 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (Min)1195₹14,820
Retail (Max)132535₹192,660
S-HNI (Min)142,730₹207,480
S-HNI (Max)6713,065₹992,940
B-HNI (Min)6813,260₹1,007,760

OLA Electric IPO Promoter Holding

The promoter of the Company is Bhavish Aggarwal.

Share Holding Pre Issue85.77%
Share Holding Post Issue

About

incorporated in 2017 and located in Bengaluru ANI Technologies originally owned Ola Electric, a well-known producer of electric two-wheelers (Ola Cabs). The company, which was established as a distinct organisation in 2018–19, focusses on vertically integrated EV technology and manufacturing, including EV parts made at Ola Futurefactory, such as motors and battery packs. R&D is carried out by Ola Electric in the US, UK, and India.

In Krishnagiri, Tamil Nadu, Ola Electric runs the biggest two-wheeler EV production plant in India. The company has 414 service centres and 935 experience centres across the country as part of its direct-to-customer (D2C) network. The Ola S1 e-scooter is available in four different versions: Ola S1 Air, Ola S1X, Ola S1, and Ola S1 Pro. Ola Electric has competition from well-known automakers such as Heromotocorp, Bajaj Auto, and TVS Motors. and new startups such as Ather Energy and Hero Electric.

According to the Redseer Report:

  • According to the Redseer Report:
  • Of all Indian incorporated electric 2Ws (E2Ws) original equipment manufacturers (OEMs), Ola’s income from E2W sales was the highest in Fiscal 2023.
  • Ola became the top-selling E2W brand in India in terms of monthly E2W registrations on the VAHAN Portal of the Ministry of Road Transport and Highways within nine months after delivering its first EV scooter in December 2021.

Ola Electric Mobility Limited Financial Information (Restated Consolidated)

Ola Electric Mobility Limited’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.

Period Ended31 Mar 202431 Mar 202331 Mar 202231 Mar 2021
Assets7,735.415,573.175,395.862,112.64
Revenue5,243.272,782.70456.26106.08
Profit After Tax-1,584.40-1,472.08-784.15-199.23
Net Worth2,019.342,356.443,661.451,970.62
Reserves and Surplus-2,882.54-1,380.03-68.831,999.30
Total Borrowing2,389.211,645.75750.4138.87
Amount in ₹ Crore

Strengths

1] In terms of E2W registrations in 2023, Ola Electric leads with 31%.

2] The advancement of EV technology is driven by global R&D at Ola Electric.

3] Economical, scalable E2W production in India is made possible by Ola Futurefactory.

4] The FAME and PLI programs increase competitiveness while lowering expenses.

Risks

1] Ola Electric faces financial risk in the form of losses and negative cash flows.

2′ Delivery and product quality could be impacted by flaws or price increases.

3] Lower subsidies could affect Ola Electric’s demand and price.

4] Ola Electric faces fierce competition in the automotive industry.

5] Production capacity is disrupted and timeliness is affected by factory delays.

5] Forecast errors lead to inventory problems, which reduce efficiency.

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