Ola Electric Mobility Limited IPO (OLA Electric IPO)

Ola Electric Mobility Limited was established in 2017 with the primary goal of producing electric cars and certain essential parts for them, such motors, battery packs, and vehicle chassis, at the Ola Future Factory.

The firm has announced four new goods and released seven since August 2021. The first electric vehicle (EV) model, the Ola S1 Pro, was delivered in December 2021. The Ola S1, Ola S1 Air, Ola S1 X, and Ola S1 X+ were then delivered in the next few years. The business made a splash on August 15, 2023, unveiling a fresh lineup of motorcycles – Diamondhead, Adventure, Roadster, and Cruiser – as well as groundbreaking electric vehicle models.

With a vast network of 870 experience centers and 431 service centers spread across India, Ola Electric offered a comprehensive omnichannel experience to its customers as of October 31, 2023.

Approximately 75% of India’s 2W exports in FY 2023 went to South East Asia, LATAM, and Africa, with the local E2W supply being quite little.

Three essential scalable platforms are essential to the business model:

The R&D and technological platform that features internal EV technology and component design and development,

The D2C omnichannel sales platform and the flexible manufacturing and supply chain platform

The corporation employed 959 people as of March 31, 2024, with a concentration on research and development. Of them, 907 were regular workers and 52 were freelancers. They are committed to developing new products, designing cars, developing software, and developing cells.

Ola Electric Mobility Limited IPO

The OLA Electric IPO is a Rs 6,145.56 crore book constructed issue. The issue consists of an offer to sell 8.49 crore shares, valued at Rs 645.56 crore, and a new issuance of 72.37 crore shares, totaling Rs 5,500.00 crores.

The subscription period for the OLA Electric IPO auction began on August 2, 2024, and it will end on August 6, 2024. On Wednesday, August 7, 2024, the allotment for the OLA Electric IPO is anticipated 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 pricing range for OLA Electric’s IPO is ₹72–₹76 per share. 195 Shares is the minimum lot size required for an application. Retail investors need to invest at least ₹14,820. For sNII and bNII categories, the minimum investment is ₹207,480 for 14 lots (2,730 shares) and ₹1,007,760 for 68 lots (13,260 shares).

Up to 797,101 shares are reserved for workers in the issuance, at a discount of Rs 7 from the issue price.

Ola Electric Mobility Limited IPO Objectives

The following goals are what the firm plans to finance with the Net Proceeds:

• To increase production capacity from 5 to 6.4 GWh, the company’s subsidiary, OCT, will make a capital investment. This initiative constitutes the second phase of the overall expansion plan.
• Repayment or prepayment, in full or in part, of the debt incurred by its subsidiary, OET
• Product development and research expenditures
• Upfront costs associated with organic growth projects
• General business objectives.

Ola Electric Mobility Limited IPO Details

Open and Close Date of Ola Electric Mobility IPO

The subscription for the IPO will be open from 2nd August and will close on 6th August, 2024.

Ola Electric Mobility IPO Share Price

The price band for the Ola Electric Mobility IPO has been set at ₹72 to ₹76 per share.

Ola Electric Mobility IPO Issue Type, Face Value, IPO Price, Market Lot, Listing, Total Issue Size

Ola Electric Mobility Limited IPO Promoter Holding

The promoters of Ola Electric Mobility are Bhavish Aggarwal

Ola Electric Mobility Limited’ Financial Information (Restated Consolidated)

Ola Electric Mobility Limited IPO Registrar

Link Intime India Private Ltd 

Phone: +91-22-4918 6270 

Email: olaelectric.ipo@linkintime.co.in 

Website: https://linkintime.co.in/initial_offer/public-issues.html

Contact Information

Ola Electric Mobility Limited 

Regent Insignia, #414, 3rd Floor, 4th Block 17thMain100 Feet Road, Koramangala Bengaluru 560034 

Phone: +91 80 3544 0050 

Email: ipo@olaelectric.com 

Website: https://www.olaelectric.com/

Ola Electric Mobility Limited IPO Prospectus

OLA Electric IPO DRHP 

OLA Electric IPO RHP 

Anchor Investors in OLA Electric IPO

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