OLA Electric IPO Details
The OLA Electric IPO is a book build issue with a total issue size of ₹6145.56 cr, comprising of fresh issue of 723684210 equity shares., and a offer for sale of 84941997 equity shares. OLA Electric IPO opened for subscription on Aug 02, 2024 and closed on Aug 06, 2024. OLA Electric IPO is set price band at ₹72 to ₹76 per share, with a lot size of 195 shares. Minimum investment for Retail investors was ₹14,820.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Aug 07, 2024, and listed on both the NSE and BSE on Aug 09, 2024.
MUFG Intime India Private Limited has been appointed as the registrar. 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 and Bob Capital Markets Limited are the Book Running Lead Manager for the issue.
Before investing in the OLA Electric IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 72 – 76
- Lot Size
- 195
- Issue Size
- ₹6145.56 Cr
- Minimum Investment
- ₹14820 (195 Shares)
- Listing Date
- 09 August 2024
Current GMP
₹-3 (-3.95%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
About Ola Electric Mobility Limited
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.
OLA Electric IPO Promoters
Ola Electric Mobility Promoters
- Bhavish Aggarwal
Promoters Holding
Holding Pre Issue
85.77%
Holding Post Issue
36.78%
OLA Electric IPO Objective
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
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
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 with a total issue size of ₹6145.56 crore. The OLA Electric IPO price band is ₹72 to 76 per share. The OLA Electric IPO subscription opens on Fri, Aug 2, 2024, and closes on Tue, Aug 6, 2024. The OLA Electric IPO will be listed on the NSE,BSE. MUFG Intime India Private Limited is the registrar for the OLA Electric IPO.
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 per share.
OLA Electric IPO lot size is 195 shares, Retail investors need a minimum investment of ₹14820 based on the upper price band
The minimum investment for OLA Electric IPO is ₹14820, based on one lot of 195 shares at the upper price band of ₹76 per share.
Investors can apply for the OLA Electric IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Aug 6, 2024. The application amount remains blocked until the OLA Electric IPO allotment is finalized.
OLA Electric IPO issue size is ₹6145.56 crores.
OLA Electric IPO allotment date is Wed, Jul 1, 2026.
The registrar for OLA Electric IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check OLA Electric IPO allotment status, refund processing, and other IPO-related information.
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 0% over the issue price.