OLA Electric IPO
GMP, Subscription, Price, Dates & Financial Details
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…
Open Date
Fri, 02 Aug 2024
Close Date
Tue, 06 Aug 2024
Price Band
₹ 72 – 76
Lot Size
195
Issue Size
₹ 6,145.56 Cr
Minimum Investment
₹ 14,820 (195 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
OLA Electric IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹6,145.56 Crore, comprising a fresh issue of 72.37 Crore equity shares aggregating to ₹5,500.00 Crore and an offer for sale (OFS) of 8.49 Crore equity shares aggregating to ₹645.56 Crore by the existing shareholders.
The OLA Electric IPO remained open for subscription from August 02, 2024, to August 06, 2024. The basis of allotment was finalized on August 07, 2024, and the company's shares were listed on the NSE and BSE on August 09, 2024.
The company had fixed the price band at ₹72 to ₹76 per share, with a lot size of 195 shares. Retail investors were required to make a minimum investment of ₹14,820 (based on the upper price band) to apply for one lot.
The IPO also included a reservation of 797,101 equity shares for eligible employees, who received a discount of ₹7 per share.
MUFG Intime India Private Limited served as the registrar to the issue. 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 acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Ola Electric Mobility Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
OLA Electric IPO Timeline (Tentative)
- IPO Open Date
- Fri, 02 Aug 24
- IPO Close Date
- Tue, 06 Aug 24
- Basis of Allotment
- Wed, 07 Aug 24
- Initiation of Refunds
- Thu, 08 Aug 24
- Credit of Shares to Demat
- Thu, 08 Aug 24
- Listing Date
- Fri, 09 Aug 24 — NSE & BSE
Open Date
02 August 2024
Close Date
06 August 2024
Basis Of Allotment
07 August 2024
Listing Date
09 August 2024
IPO Subscription
Check Live Subscription →The OLA Electric IPO has received bids for 1,98,79,03,905 shares against 46,51,59,451 shares offered, resulting in an overall subscription of 4.27x. the NII category is subscribed 2.4x, Retail Investors 3.92x, Employees 11.99x, and QIBs 5.31x. Within the NII category, BNII is subscribed 2.62x, while SNII is subscribed 1.94x.
QIB
5.31x
NII
2.4x
BNII
2.62x
SNII
1.94x
RII
3.92x
EMP
11.99x
Total
4.27x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 8,07,90,252 shares, representing 9.99% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 24,23,70,750 shares (29.97%), while Non-Institutional Investors (NIIs) receive 12,11,85,387 shares (14.99%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 363,556,135 | 44.96% |
| Qualified Institutions | 242,370,750 | 29.97% |
| Non-Institutional | 121,185,387 | 14.99% |
| BNII | 80,790,252 | 9.99% |
| SNII | 40,395,135 | 5% |
| Retail Investors | 80,790,252 | 9.99% |
| Employees | 797,101 | 0.1% |
| Total | 808,699,625 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Ola Electric Mobility Limited KPI Information
| Particular | The market capitalization of OLA Electric IPO is Rs 33521.75 Cr. |
|---|---|
| RoNW % | -78.46 |
| PbW | 13.72 |
Peers Comparison
No Peer Comparision Available
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.
Ola Electric Mobility Limited Address / Contact Details
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
OLA Electric IPO Lot Size
The OLA Electric IPO has a lot size of 195 shares. Retail investors require a minimum investment of ₹14,820 by applying for 1 lot (195 shares). The maximum application allowed for the retail category is 13 lots (2,535 shares), requiring an investment of ₹1,92,660.
| 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 |
Issue Reservation
- Anchor Investors — 44.96%
- QIB — 29.97%
- NII — 14.99%
- RII — 9.99%
- EMP — 0.1%
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
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the OLA Electric 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.
When will the OLA Electric IPO open for subscription?
The OLA Electric IPO opens on Fri, Aug 2, 2024 and closes on Tue, Aug 6, 2024
What is OLA Electric IPO Price Band?
OLA Electric IPO Price Band is ₹72 to 76 per share.
What is OLA Electric IPO Lot Size?
OLA Electric IPO lot size is 195 shares, Retail investors need a minimum investment of ₹14820 based on the upper price band
What is the minimum investment for OLA Electric IPO?
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.
How to apply for OLA Electric IPO?
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.
What is OLA Electric IPO Issue Size?
OLA Electric IPO issue size is ₹6145.56 crores.
What is the OLA Electric IPO Allotment Date?
OLA Electric IPO allotment date is Wed, Aug 7, 2024.
Who is the OLA Electric IPO Registrar?
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.
What is the OLA Electric IPO GMP?
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 3.95% over the issue price.
Who is the OLA Electric IPO Lead Manager?
The book-running lead managers (BRLMs) for the OLA Electric IPO are 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. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the OLA Electric IPO Red Herring Prospectus (RHP).