OLA Electric IPO

OLA Electric IPO will open for subscription from 02 August 2024. The company aims for an issue size of ₹6,145.56 Cr through this IPO.


Company Overview

Full nameOLA Electric Mobility Limited
SectorAutomobile & Ancillaries
IndustryAutomobile Two & Three Wheelers
Company Websitehttps://www.olaelectric.com/

About Company

OLA Electric stands as a dedicated EV pioneer in India, forging ahead with vertically integrated technology and manufacturing prowess for electric vehicles and their essential components, including cells. At the cutting-edge Ola Futurefactory, they craft EVs and key parts such as battery packs, motors, and vehicle frames.

In Fiscal 2023, OLA Electric achieved the highest revenue among all Indian electric two-wheeler (E2Ws) original equipment manufacturers (OEMs) from E2W sales. Remarkably, within nine months of launching its first EV scooter in December 2021, OLA Electric became the top-selling E2W brand in India, as reflected in the monthly E2W registrations on the VAHAN Portal of the Ministry of Road Transport and Highways.

As of 31 March 2024, OLA Electric runs a comprehensive direct-to-customer (D2C) omnichannel distribution network. This includes 870 experience centers and 431 service centers (with 429 service centers located within the experience centers) spread across India, complemented by the Ola Electric website.


The Objectives of the Issue

  • 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”);
  • Repayment or pre-payment, in full or part, of the indebtedness incurred by its Subsidiary, OET;
  • Investment into research and product development;
  • Expenditure to be incurred for organic growth initiatives; and
  • General corporate purposes.

OLA Electric IPO Timetable

IPO Opening date02 August 2024
IPO Closing06 August 2024
Basis of Allotment07 August 2024
Initiation Refund08 August 2024
Credit to Demat Account08 August 2024
Listing Date09 August 2024
(Cut-off time for UPI mandate confirmation – 5 PM on August 6, 2024)

OLA Electric IPO details

Issue typeBook Built Issue IPO
IPO issue size₹6,145.56 Cr – 808,626,207 shares
Fresh Issue₹5,500.00 Cr – 723,684,210 shares
Offer for sale₹645.56 Cr – 84,941,997 shares
Face value₹10 per share
Price Band ₹72 to ₹76 per share
Lot size195 Shares
Employee Discount₹07 per share
Shareholding pre-issue3,687,072,258
Shareholding post-issue4,410,756,468
Listing ExchangeBSE & NSE

OLA Electric IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)1195₹14,820
Retail (Max)132535₹192,660
S-HNI (Min)142,730₹207,480
S-HNI (Max)6713,065₹992,940
B-HNI (Min)6813,260₹1,007,760

OLA Electric Offer Documents


OLA Electric IPO Reservation Details

OLA Electric IPO offers 808,699,625 shares. 242,370,750 (29.97%) to QIB, 121,185,387 (14.99%) to NII, 80,790,252 (9.99%) to RII, 797,101 (0.10%) to employees and 363,556,135 (44.96%) to Anchor investors. 414,308 RIIs will receive minimum 195 shares and 14,796 (sNII) and 29,593 (bNII) will receive minimum 2,730 shares. (in case of oversubscription)

Investor CategoryShares OfferedMaximum Allottees 
Anchor Investor Shares Offered363,556,135 (44.96%)NA
QIB Shares Offered242,370,750 (29.97%)NA
NII (HNI) Shares Offered121,185,387 (14.99%)
  bNII > ₹10L80,790,252 (9.99%)29,593
  sNII < ₹10L40,395,135 (5.00%)14,796
Retail Shares Offered80,790,252 (9.99%)414,308
Employee Shares Offered797,101 (0.10%)NA
Total Shares Offered808,699,625 (100%)

OLA Electric Offer Financial Performance

 FY 2022FY 2023FY 2024
Revenue373.422,630.935,009.83
Expenses1,173.813,883.386,277.41
Net income(784.15)(1,472.08)(1,584.4)
Margin (%)(209.99)(55.95)(31.63)
(Amount in ₹ Crores)

OLA Electric Valuations & Margins

FY 2022FY 2023FY 2024
(Pre-Issue)
FY 2024
(Post-Issue)*
EPS(2.13)(3.99)(4.30)(3.59)
PE RatioNANA

* Calculated on the basis of annualized Profits After Tax for FY 2024

FY 2022FY 2023FY 2024
RONW (%)(21.42)(62.47)(78.46)
NAV9.936.395.48
EBITDA (%)(157.27)(43.02)(19.84)
Debt/Equity(0.10)0.722.01

Company Promoters

  • Bhavish Aggarwal

Promoter Holding

Pre Issue Share Holding85.77%
Post Issue Share Holding

OLA Electric Offer GMP Update

DateDay-wise IPO GMPKostakSubject to Sauda
7 August 2024
6 August 20245400
5 August 20249900
3 August 2024111,000
2 August 202415800
1 August 202416600
31 July 202415700
30 July 202415700
29 July 2024651,200
27 July 2024221,200
26 July 2024251,200
25 July 2024251,200

OLA Electric – Comparison With Listed Peers

CompanyPE ratioEPSRONW (%)NAVRevenue (Cr.)
OLA ElectricNA(4.30)(78.46)5.485,009.83
TVS Motors68.9935.5023.68158.1039,144.74
Eicher Motors33.58145.9222.17659.0616,535.78
Bajaj Auto34.02272.7026.611,037.4144,870.43
Hero MotoCorp28.89187.0420.98892.0837,788.62

OLA Electric IPO Subscription Update

CategorySubscription (times)
QIB5.53
NII2.51
    bNII (bids above ₹10L)2.75
    sNII (bids below ₹10L)2.03
Retail4.05
Employee12.38
Total4.45
Total Application : 1,347,824 (3.25 times)

OLA Electric IPO Allotment Status

OLA Electric IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.


Listing Details

Listing Date09 August 2024
BSE Scrip Code544225
NSE SymbolOLAELEC
ISININE0LXG01040
Final Issue Price₹76 per share

Listing Day Update

Listing ExchangeBSENSE
Final Issue Price₹76.00₹76.00
Open₹75.99₹76.00
Low₹75.99₹76.00
High₹91.18₹91.20
Last Trade₹91.18₹91.20

OLA Electric IPO Lead Manager(s)

  • Kotak Mahindra Capital Company Limited
  • BofA Securities India Limited
  • Axis Capital Limited
  • SBI Capital Markets Limited
  • Citigroup Global Markets India Private Limited
  • Goldman Sachs (India) Securities Private Limited
  • ICICI Securities Limited
  • Bob Capital Markets Limited

OLA Electric Registrar

LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: olaelectric.ipo@linkintime.co.in
Website: www.linkintime.co.in


Company Contact Details

OLA ELECTRIC MOBILITY LIMITED
Hosur Road, Municipal Ward No.67,
Wing C Star Tech, Municipal No. 140,
Industrial Layout Koramangala, Bengaluru – 560 095
Phone: +91 80 3544 0050
Email: ipo@olaelectric.com
Website: www.olaelectric.com


OLA Electric IPO FAQs

How many shares in OLA Electric IPO are reserved for HNIs and retail investors?

The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.

How to apply for an OLA Electric Public Offer?

The best way to apply for OLA Electric’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.

What is OLA Electric IPO GMP today?

OLA Electric IPO GMP today is ₹ NA per share.

What is OLA Electric kostak rate today?

OLA Electric kostak rate today is ₹ NA per application.

What is OLA Electric Subject to Sauda rate today?

OLA Electric Subject to Sauda rate today is ₹ NA per application.


Final thoughts

OLA Electric IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.

Happy Investing

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