IPO

Ola Electric Mobility Limited IPO

Mainboard

2/3 Wheelers

Listed On: Aug 9, 2024 at ₹ 76.0(NSE)

₹ 14820 /195 Shares

Check Allotment

Price Summary

Last Closing

74.51 (-1.96%)

52 Week High

157.40

52 Week Low

66.66

Last Update

17-Jan-2025 3:30 PM
Ola Electric Mobility IPO Details

02 Aug, 2024

Open Date

06 Aug, 2024

Close Date

07 Aug, 2024

Allotment Date

09 Aug, 2024

Listing Date

Issue Price

₹72-76 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

76.0(NSE)

Listing Date

2024-08-09

Market Lot

Retail : 195 Shares (₹14,820/-)
S-HNI : 2,730 Shares (₹2,07,480/-)
B-HNI : 13,260 Shares (₹10,07,760/-)

Lead Manager

Kotak Mahindra Capital Company Limited
Bofa Securities India Limited
Axis Capital Limited
SBI Capital Markets Limited

Issue Size

Total ₹6,145.56 Cr :
#Fresh Issue : 723,684,210 shares(aggregating up to ₹5,500 Cr) +
#OFS : 84,941,997 shares of ₹10(aggregating up to ₹645.56 Cr)

Retail Portion

10% (Number of Retail Applications: 4,14,309 Approx),
(Number of S-HNI Applications : 14,797 Approx),
(Number of B-HNI Applications : 29,593 Approx)

Subscription

4.26 times

IPO Docs

DRHP RHP ANCHOR

Ola Electric Mobility IPO Subscription Details

As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved242,370,750121,185,387
80,790,252    40,395,135		80,790,252445,143,490
Day 1 - 02-08-24 05:00 PM0.00 x0.20
0.13 x   0.35 x		1.57 x0.35 x
Day 2 - 05-08-24 05:00 PM0.40 x1.11
1.12 x   1.09 x		2.87 x1.06 x
Day 3 - 06-08-24 05:00 PM5.31 x2.39
2.62 x   1.93 x		3.85 x4.26 x
Total No. of Applications: 13,47,822 (Approx)

Ola Electric Mobility Valuations

EPS Pre IPO

-₹4.3/-

EPS Post IPO

-₹3.59/-

P/E Pre IPO

-17.69

P/E Post IPO

-21.16

RoNW

-78.46%

Price to Book Value

13.72

Ola Electric Mobility Company Financials All values are in ₹ Cr.

31-Mar-2431-Mar-2331-Mar-22
Assets7,735.415,573.175,395.86
Revenue5,243.272,782.70456.26
Profit After Tax-1,584.40-1,472.08-784.15
Net Worth2,019.342,356.443,661.45
Reserves & Surplus-2,882.54-1,380.03-68.83
Total Borrowing2,389.211,645.75750.41

About The Company

Ola Electric Mobility Limited is an electric vehicle company that was established in 2017. Here, the company mainly manufactures electric vehicles and certain core components for electric vehicles, like battery packs, motors, and vehicle frames, at the Ola Futurefactory.Since August 2021, it has rolled out seven new models and unveiled four. It shipped the Ola S1 Pro, which became the company's first electric model, in December 2021, then delivered the Ola S1 in the subsequent year, then released the Ola S1 Air, the Ola S1 X and, lastly the Ola S1 X+, on August 15, 2023 it unveiled more models of electric as well as various motorbikes from Diamondhead to Roadster as well as the Cruiser.

As of October 31, 2023, the company manages its 'omnichannel distribution network across India, comprising 870 experience centers and 431 service centers (which includes 429 service centers within experience centers) along with Ola Electric's website.Of the total two-wheeler exports from India in FY 2023, almost 75 percent were headed towards Africa, LATAM, and South East Asia, while home supply of E2W was abysmally low.

The business model is based on three scalable platforms: the R&D and technology platform, which has in-house design and development of EV technologies and components; the adaptable production and supply chain platform; and the D2C omnichannel sales platform.The company as of March 31, 2024 has a total number of 959 employees that includes 907 permanent and 52 freelancers with special focus in their work, being devoted to development through research, especially on products, vehicle, software, designing vehicle, and development of the cells.

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Ola Electric Mobility - Strength and Weakness

Strength

Ola Electric leads E2W market with 31% registrations in 2023.

Global R&D drives innovation in Ola Electric's EV technology.

Ola Futurefactory enables scalable, cost-efficient E2W production in India.

PLI and FAME schemes reduce costs and boost competitiveness.

Weakness

Losses and negative cash flows pose financial risks to Ola Electric.

Reduced subsidies may impact Ola Electric's pricing and demand.

Intense competition challenges Ola Electric in the automotive market.

Factory delays disrupt production capacity and impact timelines.

Ola Electric Mobility - Promoter(s)

Pre Issue Share Holding: 85.77%

Post Issue Share Holding: N/A%

Company Promoter(s)
  1. Bhavish Aggarwal

Ola Electric Mobility IPO - Issue Objectives

  1. Capital expenditure to be incurred by its Subsidiary, OCT for expansion of the capacity of its cell manufacturing plant from 5GWh to 6.4 GWh, classified as phase 2 under the expansion plan(the Project)
  2. Repayment or pre-payment, in full or part, of the indebtedness incurred by its Subsidiary, OET
  3. Investment into research and product development
  4. Expenditure to be incurred for organic growth initiatives
  5. General corporate purposes

Ola Electric Mobility IPO - Anchor Investors

Ola Electric IPO: E2W maker raises Rs 2,763 cr from anchor investors.

About Rs 1,117 crore was allotted to domestic mutual funds (MF) that included SBI MF, HDFC MF, Nippon MF and UTI MF.

SBI Mutual Fund (MF), HDFC MF, Nippon India MF, Sundaram MF, Bandhan MF, Bharti Axa Life Insurance Company, Kotak Mahindra Life Insurance Company, Government Pension Fund Global, Nomura India Investment Fund, Goldman Sachs (Singapore) Pte Ltd, and Fidelity were allotted shares in the anchor round.

Other Details

Company Contact Details

Ola Electric Mobility

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/

Registrar Contact Details

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: olaelectric.ipo@linkintime.co.in

Website: https://linkintime.co.in/initial_offer/public-issues.html

Ola Electric Mobility IPO - FAQs

Ans. Ola Electric Mobility Limited IPO is a Mainboard IPO. The issue is priced at ₹72-76 per equity share. The minimum order quantity is 195 Shares. The IPO opens on Aug 2, 2024, and closes on Aug 6, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Ola Electric Mobility Limited IPO opens on Aug 2, 2024 and closes on Aug 6, 2024.

Ans. The size of Ola Electric Mobility Limited IPO is Total ₹6,145.56 Cr : #Fresh Issue : 723,684,210 shares(aggregating up to ₹5,500 Cr) + #OFS : 84,941,997 shares of ₹10(aggregating up to ₹645.56 Cr).

Ans. The IPO price band is set between ₹72-76 per equity share.

Ans. To apply for Ola Electric Mobility Limited IPO IPO, follow the steps given below:

  • - Open the IPO Ji App or Website
  • - Find Ola Electric Mobility Limited IPO in the List of IPOs
  • - Press "Apply" Button
  • - Select Your Demat Account
  • - Select Your Shares Quantity and Submit
  • - Track Your IPO Status

Ans. The share allotment date of Ola Electric Mobility Limited IPO is Aug 7, 2024.

Ans. The Ola Electric Mobility Limited IPO will be listed on Aug 9, 2024.

Ans. Follow the steps to check the allotment status for Ola Electric Mobility Limited IPO here.