Ola Electric IPO has finalized the dates for its IPO, which will open on August 2 and close on August 6. The company aims to raise approximately ₹6,145.56 crores through this IPO, consisting of a fresh issue worth ₹5,500 crores and an offer for sale of up to 84,941,997 equity shares at ₹10 each. The allocation is set with a 10% quota for retail investors, 75% for Qualified Institutional Buyers (QIB), and 15% for High Net Worth Individuals (HNI).
About Ola Electric
Ola Electric is a prominent player in India’s electric vehicle (EV) industry, with a focus on building vertically integrated technology and manufacturing capabilities for EVs and their components, including battery cells. The company manufactures EVs and essential components like battery packs, motors, and vehicle frames at its state-of-the-art Ola Futurefactory. Committed to advancing mobility electrification in India, Ola Electric is also exploring opportunities to export its EVs to select international markets in the future.
Product Launches and Milestones
Since unveiling its first product in August 2021, Ola Electric has delivered four models and announced six additional products. The company began delivering its first EV model, the Ola S1 Pro, 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 introduced new models, including the Ola S1 X (2 kWh) and Ola S1 X (3 kWh), along with 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 emerged as the top revenue-generating electric two-wheeler (E2W) original equipment manufacturer (OEM) in India, as reported by Redseer, driven by E2W sales. Within nine months of delivering their first EV scooter in December 2021, Ola Electric became India’s best-selling E2W brand based on monthly registrations on the VAHAN Portal of the Ministry of Road Transport and Highways, according to Redseer. Research and development (R&D) and technology are at the core of Ola Electric’s business model, with a strong emphasis on in-house product innovation.
Objects of the Issue
Capital expenditure for our subsidiary OCT, aimed at expanding the capacity of our cell manufacturing plant from 5 GWh to 6.4 GWh, classified as phase 2 of our expansion plan (the “Project”).
Repayment or partial pre-payment of debt incurred by our subsidiary, OET.
Investment in research and product development.
Expenditure for organic growth initiatives.
General corporate purposes.
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Ola Electric IPO Review (Apply or Not)
Recommendation: May Apply
Brokerage Firm IPO Reviews
Anand Rathi: May Apply
BP Equities (BP Wealth): Apply
Swastika Investmart Ltd: Neutral
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 |
Ola Electric IPO Lot Size:
The minimum lot size for the Ola Electric IPO is 195 shares, with a required investment of ₹14,820. Retail investors can apply for a maximum of 13 lots, totaling 2,535 shares, which would require an investment of ₹192,660.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 195 | ₹ 14,820 |
| Retail Maximum | 13 | 2535 | ₹ 1,92,660 |
| S-HNI Minimum | 14 | 2,730 | ₹ 2,07,480 |
| B-HNI Minimum | 68 | 13,260 | ₹ 10,07,760 |
Ola Electric IPO Timeline:
The Ola Electric IPO will open on August 2 and close on August 6. Share allotment will be finalized on August 7, with the IPO 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 current Grey Market Premium (GMP) for the Ola Electric IPO is ₹12.50. Based on a price band of ₹76.00, the estimated listing price is ₹88.50 (cap price + today’s GMP), indicating an anticipated gain of 16.45% per share.
Ola Electric Company Financial Report
| in Crore | |||
| Year | Revenue | Expense | PAT |
| 2022 | ₹ 456.26 | ₹ 1,173.81 | ₹ 784.15 |
| 2023 | ₹ 2,782.70 | ₹ 3,883.38 | ₹ 1,472.08 |
| 2024 | ₹ 5,243.27 | ₹ 6,277.41 | ₹ 1,584.40 |
Peer Group
TVS Motors
Eicher Motors
Bajaj Auto
Hero MotoCorp
Company Promoter
Bhavish Aggarwal
Ola Electric IPO Registrar
Link Intime India Private Limited
Tel: +91 810 811 4949
Email: olaelectric.ipo@linkintime.co.in
Website: www.linkintime.co.in
Ola Electric IPO Allotment Status
Check the allotment status for the Ola Electric IPO on the Link Intime website. Click Here.
Ola Electric IPO Lead Managers (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
Email: ipo@olaelectric.com
Website: www.olaelectric.com
Ola Electric IPO FAQs
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. Share allotment will be finalized on August 7, 2024, and the IPO is expected to be listed on August 9, 2024.
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.
How many lots can retail investors apply for?
Retail investors can apply for up to 13 lots, totaling 2,535 shares, which requires an investment of ₹192,660.
What is the price band for the Ola Electric IPO?
The price band for the Ola Electric IPO is ₹76.00 per share.