Ola Electric Mobility Limited IPO is a book-built issue of ₹6,145.56 crores. The issue consists of a fresh issuance of 72.37 crore shares totaling Rs 5,500.00 crores and an offer for sale of 8.49 crore shares totaling Rs 645.56 crores.
The OLA Electric IPO will be open for subscription from August 2, 2024, to August 6, 2024. The allotment is expected to be finalized on Wednesday, August 7, 2024, and the IPO is set to list on the BSE and NSE on Friday, August 9, 2024.
The price band for the OLA Electric IPO is set at ₹72 to ₹76 per share. The minimum lot size for an application is 195 shares, requiring a minimum investment of ₹14,820 for retail investors. For sNII, the minimum investment is 14 lots (2,730 shares) totaling ₹207,480, and for bNII, it is 68 lots (13,260 shares) totaling ₹1,007,760.
- Book running lead managers of OLA Electric IPO:-
- Kotak Mahindra Capital Company Limited
- Bofa Securities India Limited
- Axis Capital Limited
- SBI Capital Markets Limited
- Citigroup Global Market India Private Limited
- Goldman Sachs (India)
- Securities Private Limited
- ICICI Securities Limited
- Bob Capital Markets Limited
- Registrar – Link Intime India Private Ltd.
Below are the details of OLA Electric IPO 2024 Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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OLA Electric IPO 2024 Details
| Attribute | IPO Details |
|---|---|
| IPO Date | August 2, 2024 to August 6, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹72 to ₹76 per share |
| Lot Size | 195 Shares |
| Total Issue Size | 808,626,207 shares (aggregating up to ₹6,145.56 Cr) |
| Fresh Issue | 723,684,210 shares (aggregating up to ₹5,500.00 Cr) |
| Offer for Sale | 84,941,997 shares of ₹10 (aggregating up to ₹645.56 Cr) |
| Employee Discount | Rs 7 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 3,687,072,258 |
| Share holding post issue | 4,410,756,468 |
OLA Electric IPO 2024 Timeline
The schedule is tentative.
| Events | Timeline |
|---|---|
| IPO Open Date | Friday, August 2, 2024 |
| IPO Close Date | Tuesday, August 6, 2024 |
| Basis of Allotment | Wednesday, August 7, 2024 |
| Initiation of Refunds | Thursday, August 8, 2024 |
| Credit of Shares to Demat | Thursday, August 8, 2024 |
| Listing Date | Friday, August 9, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 6, 2024 |
OLA Electric IPO 2024 Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 195 | ₹14,820 |
| Retail (Max) | 13 | 2535 | ₹192,660 |
| S-HNI (Min) | 14 | 2,730 | ₹207,480 |
| S-HNI (Max) | 67 | 13,065 | ₹992,940 |
| B-HNI (Min) | 68 | 13,260 | ₹1,007,760 |
OLA Electric IPO 2024 Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
OLA Electric IPO 2024 Promoters
The promoter of the company is Bhavish Aggarwal
OLA Electric IPO 2024 Financial Information (Restated Consolidated)
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 7,735.41 | 5,573.17 | 5,395.86 | 2,112.64 |
| Revenue | 5,243.27 | 2,782.70 | 456.26 | 106.08 |
| Profit After Tax | -1,584.40 | -1,472.08 | -784.15 | -199.23 |
| Net Worth | 2,019.34 | 2,356.44 | 3,661.45 | 1,970.62 |
| Reserves and Surplus | -2,882.54 | -1,380.03 | -68.83 | 1,999.30 |
| Total Borrowing | 2,389.21 | 1,645.75 | 750.41 | 38.87 |
| Amount in ₹ Crore | ||||
About Ola Electric
Founded in 2017, Ola Electric Mobility Limited manufactures electric vehicles and key components like battery packs and motors at the Ola Futurefactory. Since August 2021, the company has launched seven new products, including the Ola S1 Pro, Ola S1, Ola S1 Air, Ola S1 X, and Ola S1 X+. On August 15, 2023, they announced new EV models and motorcycles such as Diamondhead, Adventure, Roadster, and Cruiser.
As of October 31, 2023, Ola Electric operates an omnichannel distribution network across India with 870 experience centers and 431 service centers. In FY 2023, 75% of their 2W exports went to Africa, LATAM, and Southeast Asia.
The company’s business model is based on three key platforms: R&D and technology, adaptable production and supply chain, and a D2C omnichannel sales platform. By March 31, 2024, Ola Electric employed 959 people, including 907 permanent employees and 52 freelancers, focused on research and development.
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