August 2, 2024 - August 6, 2024
RHP
OLA Electric IPO is a book built issue of Rs 6,145.56 crores. The issue is a combination of fresh issue of 72.37 crore shares aggregating to Rs 5,500.00 crores and offer for sale of 8.49 crore shares aggregating to Rs 645.56 crores.
OLA Electric IPO is open for subscription on August 2, 2024 and close today August 6, 2024. The allotment for the OLA Electric IPO is expected to be finalized on Wednesday, August 7, 2024. OLA Electric IPO will list on BSE, NSE with tentative listing date fixed as Friday, August 9, 2024.
OLA Electric IPO price band is set at ₹72 to ₹76 per share. The minimum lot size for an application is 195 Shares. The minimum amount of investment required by retail investors is ₹14,820. The minimum lot size investment for sNII is 14 lots (2,730 shares), amounting to ₹207,480, and for bNII, it is 68 lots (13,260 shares), amounting to ₹1,007,760.
The issue includes a reservation of up to 797,101 shares for employees offered at a discount of Rs 7 to the issue price.
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 and Bob Capital Markets Limited are the book running lead managers of the OLA Electric IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to OLA Electric IPO RHP for detailed information.
OLA Electric IPO Details
| IPO Date | August 2, 2024 to August 6, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹72 to ₹76 per share |
| Lot Size | 195 Shares |
| Total Issue Size | 808,626,207 shares (aggregating up to ₹6,145.56 Cr) |
| Fresh Issue | 723,684,210 shares (aggregating up to ₹5,500.00 Cr) |
| Offer for Sale | 84,941,997 shares of ₹10 (aggregating up to ₹645.56 Cr) |
| Employee Discount | Rs 7 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 3,687,072,258 |
| Share holding post issue | 4,410,756,468 |
OLA Electric IPO Reservation
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 Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 363,556,135 (44.96%) | NA |
| QIB Shares Offered | 242,370,750 (29.97%) | NA |
| NII (HNI) Shares Offered | 121,185,387 (14.99%) | |
| bNII > ₹10L | 80,790,252 (9.99%) | 29,593 |
| sNII < ₹10L | 40,395,135 (5.00%) | 14,796 |
| Retail Shares Offered | 80,790,252 (9.99%) | 414,308 |
| Employee Shares Offered | 797,101 (0.10%) | NA |
| Total Shares Offered | 808,699,625 (100%) |
OLA Electric IPO Anchor Investors Details
OLA Electric IPO raises Rs 2,763.03 crore from anchor investors. OLA Electric IPOAnchor bid date is August 1, 2024.OLA Electric IPOAnchor Investors list
| Bid Date | August 1, 2024 |
| Shares Offered | 363,556,135 |
| Anchor Portion Size (In Cr.) | 2,763.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 6, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 5, 2024 |
OLA Electric IPO Timeline (Tentative Schedule)
OLA Electric IPO opens on August 2, 2024, and closes on August 6, 2024.
| IPO Open Date | Friday, August 2, 2024 |
| IPO Close Date | Tuesday, August 6, 2024 |
| Basis of Allotment | Wednesday, August 7, 2024 |
| Initiation of Refunds | Thursday, August 8, 2024 |
| Credit of Shares to Demat | Thursday, August 8, 2024 |
| Listing Date | Friday, August 9, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 6, 2024 |
OLA Electric IPO Lot Size
Investors can bid for a minimum of 195 shares and in multiples thereof. Thebelow table depicts the minimum and maximum investment by retail investors and HNI in terms ofshares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 195 | ₹14,820 |
| Retail (Max) | 13 | 2535 | ₹192,660 |
| S-HNI (Min) | 14 | 2,730 | ₹207,480 |
| S-HNI (Max) | 67 | 13,065 | ₹992,940 |
| B-HNI (Min) | 68 | 13,260 | ₹1,007,760 |
| Lot Size Calculator | |||
OLA Electric IPO Promoter Holding
The promoter of the Company is Bhavish Aggarwal.
| Share Holding Pre Issue | 85.77% |
| Share Holding Post Issue |
About Ola Electric Mobility Limited
Founded in 2017, Ola Electric Mobility Limited is an electric vehicle company that primarily manufactures electric vehicles and certain core components for electric vehicles such as battery packs, motors, and vehicle frames at the Ola Futurefactory.
Since August 2021, the company has launched seven new products and announced four. The Ola S1 Pro, the first EV model, was delivered in December 2021, followed by the Ola S1, Ola S1 Air, Ola S1 X and Ola S1 X+ in the following years. On August 15, 2023, the company announced new EV models and a range of motorcycles including Diamondhead, Adventure, Roadster, and Cruiser.
As of October 31, 2023, the company operates its "omnichannel distribution network across India, comprising 870 experience centers and 431 service centers (including 429 service centers in experience centers), in addition to the Ola Electric website.
In FY 2023, around 75% of 2W exports from India were destined for Africa, LATAM, and South East Asia, while teh domestic supply of E2W was limited.
The business model relies on three key scalable platforms:
- The R&D and technology platform with in-house design and development of EV technologies and components,
- The adaptable production and supply chain platform and
- The D2C omnichannel sales platform
As of March 31, 2024, the company had 959 employees (including 907 permanent employees and 52 freelancers) who focus on research and development. They are dedicated to product development, vehicle and software development, vehicle design, and cell development.
Ola Electric Mobility Limited Financial Information (Restated Consolidated)
Ola Electric Mobility Limited's revenue increased by 88.42% and profit after tax (PAT) dropped by -7.63% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 7,735.41 | 5,573.17 | 5,395.86 | 2,112.64 |
| Revenue | 5,243.27 | 2,782.70 | 456.26 | 106.08 |
| Profit After Tax | -1,584.40 | -1,472.08 | -784.15 | -199.23 |
| Net Worth | 2,019.34 | 2,356.44 | 3,661.45 | 1,970.62 |
| Reserves and Surplus | -2,882.54 | -1,380.03 | -68.83 | 1,999.30 |
| Total Borrowing | 2,389.21 | 1,645.75 | 750.41 | 38.87 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of OLA Electric IPO is Rs 33521.75 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| RoNW | -78.46% |
| P/BV | 13.72 |
Check OLA Electric IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | -4.3 | -3.59 |
| P/E (x) | -17.69 | -21.16 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latestFY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FYearnings of March 31, 2024 that is available in RHP.
Objects of the Issue (OLA Electric IPO Objectives)
The company proposes to utilise the Net Proceeds towards funding the following objects:
- 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 Review (May apply)
[Dilip Davda] The company is a pure E2W play emerging leader and with many big and small company’s dropping their hat in the fray, sphere competition is shaping ahead. Ola has laid down its future path with its future factory and Gigafactory to take on any kind of competition. In fact, the company is planning to enter E-2W bikes, three wheeler, cars and most importantly the 4680 Li-thion battery where it mulls it making a global hub for EV batteries. While its top line has been surging year-on-year, its bottom line marked improvement in reduced losses. No doubt it will take some more time to turn the corner and wipe out the losses. Thus it’s a pure long term investment bet. Well-informed investors may park moderate funds for long term. Read detail review...
OLA Electric IPO Prospectus
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OLA Electric IPO Rating
23
2.3
Rating:
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Ola Electric Mobility Limited 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/
OLA Electric IPO Registrar
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 IPO - Buy or Not
OLA Electric IPO Recommendation Summary
| Review By | Subscribe | Neutral | Avoid |
|---|---|---|---|
| Brokers | 6 | 2 | 0 |
| Members | 3 | 0 | 9 |
Read All ReviewsPost Your Review Manage Reviews
OLA Electric IPO Lead Manager(s)
- Kotak Mahindra Capital Company Limited (Past IPO Performance)
- Bofa Securities India Limited (Past IPO Performance)
- Axis Capital Limited (Past IPO Performance)
- SBI Capital Markets Limited (Past IPO Performance)
- Citigroup Global Markets India Private Limited (Past IPO Performance)
- Goldman Sachs (India) Securities Private Limited (Past IPO Performance)
- ICICI Securities Limited (Past IPO Performance)
- Bob Capital Markets Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager PerformanceTracker
OLA Electric IPO FAQs
OLA Electric IPO is a main-board IPO of 808,626,207 equity shares of the face value of ₹10 aggregating up to ₹6,145.56 Crores. The issue is priced at ₹72 to ₹76 per share. The minimum order quantity is 195 Shares.
The IPO opens on August 2, 2024, and closes on August 6, 2024.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in OLA Electric IPO using UPI as a payment gateway. Zerodha customers can apply in OLA Electric IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in OLA Electric IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the 'OLA Electric IPO' row and click the 'Bid' button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
The OLA Electric IPO opens on August 2, 2024 and closes on August 6, 2024.
OLA Electric IPO lot size is 195 Shares, and the minimum amount required is ₹14,820.
You can apply in OLA Electric IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for OLA Electric IPO will be done on Wednesday, August 7, 2024, and the allotted shares will be credited to your demat account by Thursday, August 8, 2024. Check the OLA Electric IPO allotment status.
The OLA Electric IPO listing date is not yet announced. The tentative date of OLA Electric IPO listing is Friday, August 9, 2024.
OLA Electric IPO Message Board
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