OLA Electric IPO
Open MainLineCurrent GMP
₹-3 (-3.95%)
Price Band
₹ 72 – 76
Lot Size
195
Issue Size
₹6145.56 Cr
Minimum Investment
₹14820 (195 Shares)
Listing Date
09 August 2024
Subscription
4.27x
About the Company
Incorporated in 2017, Bengaluru-based Ola Electric is a prominent electric two-wheeler manufacturer, initially a subsidiary of ANI Technologies (Ola Cabs). Spun off as a separate entity in 2018-19, the company specializes in vertically integrated EV technology and manufacturing, including EV components like battery packs and motors, produced at Ola Futurefactory. Ola Electric conducts R&D activities in India, the UK, and the US.
Ola Electric operates India’s largest two-wheeler EV manufacturing facility in Krishnagiri, Tamil Nadu. The company’s direct-to-customer (D2C) network includes 935 experience centres and 414 service centres nationwide. Its product lineup features the Ola S1 e-scooter in four variants: Ola S1 Air, Ola S1X, Ola S1, and S1 Pro. Ola Electric competes with established auto manufacturers like Heromotocorp, Bajaj Auto, TVS Motors, and new startups such as Ather Energy and Hero Electric.
Promoters
Ola Electric Mobility Promoters
- Bhavish Aggarwal
Promoters Holding
Holding Pre Issue
85.77%
Holding Post Issue
36.78%
Objects of the Issue
The company proposes to utilise the Net Proceeds towards funding the following objects:
- To fund capital expenditure to be incurred by its Subsidiary, OET for expansion of the capacity of its cell manufacturing plant from 5GWh to 6.4 GWh, classified as phase 2 under the expansion plan.
- To repay or prepay, in full or part, of the borrowing obtained by the subsidiary, OET.
- Investment into research and product development.
- Expenditure to be incurred for organic growth initiatives.
- General corporate purposes.
Address / Contact Info
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
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 02 August 2024
IPO Close Date
Tuesday, 06 August 2024
Basis of Allotment
Wednesday, 07 August 2024
Initiation of Refunds
Thursday, 08 August 2024
Credit of Shares to Demat
Thursday, 08 August 2024
Listing Date
Friday, 09 August 2024 — NSE & BSE
Important Dates
Open Date
02 August 2024
Close Date
06 August 2024
Basis Of Allotment
07 August 2024
Listing Date
09 August 2024
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 7735.41 | 5573.17 | 5395.86 | 2112.64 |
| Revenue | 5243.27 | 2782.7 | 456.26 | 106.08 |
| Profit After Tax | -1584.4 | -1472.08 | -784.15 | -199.23 |
| Net Worth | 2019.34 | 2356.44 | 3661.45 | 1970.62 |
| Reserve & Surplus | -2882.54 | -1380.03 | -68.83 | 1999.3 |
| Total Borrowings | 2389.21 | 1645.75 | 750.41 | 38.87 |
EPS Pre
-4.30%
EPS Post
-3.59%
P/E Pre
-17.69
P/E (Post Issue)
-21.16x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | The market capitalization of OLA Electric IPO is Rs 33521.75 Cr. |
|---|---|
| ROE % | 0 |
| ROCE % | 0 |
| Debt / Equity | 0 |
| RoNW % | -78.46 |
| PbW | 13.72 |
| Pat Margin % | 0 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 363556135 | 44.96 | 0 |
| Qualified Institutions | 242370750 | 29.97 | 0 |
| Non-Institutional | 121185387 | 14.99 | 0 |
| BNII | 80790252 | 9.99 | 29593 |
| SNII | 40395135 | 5 | 14796 |
| Retail Investors | 80790252 | 9.99 | 414308 |
| Employees | 797101 | 0.1 | 0 |
| Total | 808699625 | 100 | 0 |
Subscription Status ( Sun, 18 Aug 24 12:41 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 252296550 | 1340339910 | 5.31x |
| Non-Institutional | 127210049 | 304972980 | 2.4x |
| BNII | 84806700 | 222502995 | 2.62x |
| SNII | 42403349 | 82469985 | 1.94x |
| Retail Investors | 84806699 | 332444970 | 3.92x |
| Employees | 846153 | 10146045 | 11.99x |
| Total | 465159451 | 1987903905 | 4.27x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 195 | 14,820.00 |
| Retail (Max) | 13 | 2,535 | 192,660.00 |
| S-HNI (Min) | 14 | 2,730 | 207,480.00 |
| S-HNI (Max) | 67 | 13,065 | 992,940.00 |
| B-HNI (Min) | 68 | 13,260 | 1,007,760.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Citigroup Global Markets India Private Limited
- Bofa Securities India Limited
- Axis Capital Limited
- Goldman Sachs (India) Securities Private Limited
- ICICI Securities Limited
- SBI Capital Markets Limited
- Kotak Mahindra Capital Company Limited
- Bob Capital Markets Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
OLA Electric IPO is a Book-building IPO worth ₹6145.56 crores. The price band is ₹72 to 76 per share. The IPO opens on Fri, Aug 2, 2024 and closes on Tue, Aug 6, 2024. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The OLA Electric IPO opens on Fri, Aug 2, 2024 and closes on Tue, Aug 6, 2024
OLA Electric IPO Price Band is ₹72 to 76.
OLA Electric IPO lot size is 195, and the minimum amount required for application is ₹14820.
The minimum investment for OLA Electric IPO is approximately ₹14820 based on the upper price band.
To apply for the OLA Electric IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Aug 6, 2024. After submission, funds are blocked until the basis of allotment of OLA Electric IPO is finalised.
OLA Electric IPO issue size is ₹6145.56 crores.
OLA Electric IPO allotment date is Sat, Jun 27, 2026.
The registrar for OLA Electric IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to OLA Electric IPO through their official website or helpline.
The OLA Electric IPO GMP (Grey Market Premium) is ₹3 as of Fri, Aug 9, 2024. Based on the upper price band of ₹76 per share, the estimated OLA Electric IPO listing price is ₹79, indicating a potential listing gain of approximately 31% over the issue price.