OLA Electric IPO (OLA Electric Mobility Limited IPO)
OLA Electric IPO open for bidding on 2nd August 2024 and ends on 6th August 2024.
Founded in 2017, Ola Electric Mobility Limited is an electric vehicle company that manufactures EVs and core components like battery packs, motors, and vehicle frames at the Ola Futurefactory. Since August 2021, they have launched seven products, including the Ola S1 Pro, S1, S1 Air, S1 X, and S1 X+, with more models announced in August 2023.
As of October 31, 2023, Ola Electric operates 870 experience centers and 431 service centers across India. Their business model includes R&D, a scalable production and supply chain, and a D2C omnichannel sales platform. By FY 2023, they focused on exporting to Africa, LATAM, and South East Asia.
Their future plans involve expanding their product lineup, exploring electric cars, and increasing manufacturing capacity to produce millions of EVs annually. They aim to enhance battery technology and charging infrastructure to support the growing demand for electric mobility, striving to be a global leader in sustainable transportation by 2025.
For more details refer to OLA Electric IPO RHP and OLA Electric IPO Pulse Score
OLA Electric IPO Details
| IPO Date | 2nd August 2024 to 6th August 2024 |
| Listing Date | 9th August 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹72 to ₹76 per share |
| Lot Size | 195 Shares |
| Total Issue Size | 82,87,15,586 shares (aggregating up to ₹6,145.56 Cr) |
| Fresh Issue | 74,37,73,589 shares (aggregating up to ₹5,500.00 Cr) |
| Offer for Sale | 8,49,41,997 shares of ₹10 (aggregating up to ₹645.56 Cr) |
| Employee Discount | ₹7 per Share |
| Issue Type | Book Built Issue IPO |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor | 36,35,56,135(43.9%) |
| QIB | 25,22,96,550(30.4%) |
| NII | 12,72,10,049(15.3%) |
| bNII | 8,48,06,700(10.2%) |
| sNII | 4,24,03,349(5.1%) |
| Retail | 8,48,06,699(10.2%) |
| Employees | 8,46,153(0.1%) |
| Total | 82,87,15,586(100%) |
OLA Electric IPO Timeline
| IPO Open | 2nd August 2024 |
| IPO Close | 6th August 2024 |
| Basis Of Allotment | 7th August 2024 |
| Initiation of Refunds | 8th August 2024 |
| Credit of Shares to Demat | 8th August 2024 |
| Listing Date | 9th August 2024 |
Fundamentals
Data as of 31st March 2024
| Market Cap | ₹ 33,521.75 Cr | P/E Ratio- Pre IPO | -17.69 |
| RoNW | -78.46% | P/E Ratio- Post IPO | -21.16 |
| RoCE | P/B Ratio | 13.72 | |
| Debt to Equity | 1.18 | PAT Margin% | -30.22% |
OLA Electric IPO Objectives
The company proposes to utilize the Net Proceeds towards the funding of the following objects:
- Capital expenditure to be incurred by the Subsidiary, OCT for expansion of the capacity of the cell manufacturing plant from 5 GWh 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 the Subsidiary, OET;
- Investment into research and product development;
- Expenditure to be incurred for organic growth initiatives; and
- General Corporate Purposes.
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