Ola Electric Mobility Limited IPO
- IPO Date02 Aug, 2024 to 06 Aug, 2024
- Listing Date09 Aug, 2024
- Face Value₹10 per share
- Issue Price₹72 to ₹76 per share
- Lot Size195 Shares
- Minimum Investment₹14,820
- Listing AtBSE, NSE
- Total Issue Size80,86,26,207 Shares
(aggregating up to ₹6145.56 Cr) - Fresh Issue72,36,84,210 Shares
(aggregating up to ₹5500.00 Cr)
- Offer for Sale8,49,41,997 Shares
(aggregating up to ₹645.56 Cr) - Issue TypeBook Built Issue IPO
- Share holding pre issue3,68,70,72,258
- Shareholding post issue4,41,07,56,468
IPO Dates
Closing Date
06 Aug, 2024
Initiation of Refunds
08 Aug, 2024
Listing Date
09 Aug, 2024
02 Aug, 2024
Opening Date
07 Aug, 2024
Basis of Allotment
08 Aug, 2024
Credit of Shares
Ola Electric Mobility Limited Lot Size
Investors can bid for a minimum of 195 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| S-HNI (Max) | 67 | 13065 | ₹9,92,940 |
| Retail (Max) | 13 | 2535 | ₹1,92,660 |
| Retail (Min) | 1 | 195 | ₹14,820 |
| B-HNI (Min) | 68 | 13260 | ₹10,07,760 |
| S-HNI (Min) | 14 | 2730 | ₹2,07,480 |
Ola Electric Mobility Limited Promoter Holding
The promoter of the Company is Bhavish Aggarwal.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 85.77% | - |
Ola Electric Mobility Limited COMPANY INFORMATION
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 opens for subscription on August 2, 2024 and closes on 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. 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.
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.
Comprehensive Analysis of Ola Electric Mobility Limited IPO
Overview of the IPO
Ola Electric Mobility Limited, headquartered in Bengaluru, Karnataka, India, is planning its Initial Public Offering (IPO) with a fresh issue and offer for sale of equity shares. The IPO aims to raise significant funds to fuel the company’s growth and development in the electric vehicle sector.
Detailed Breakdown of the IPO Structure
- Fresh issue of up to equity shares aggregating up to ?55,000 million.
- Offer for Sale: Up to 84,941,997 equity shares.
- Book Running Lead Managers: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited, and BOB Capital Markets Limited.
- Registrar: Link Intime India Private Limited.
- Offer Period: Opens on August 2, 2024, and closes on August 6, 2024.
The funds raised will be instrumental in scaling the company’s operations, enhancing technological capabilities, and expanding market reach.
Promoters and Key Stakeholders
- Promoter: Bhavish Aggarwal.
- Selling shareholders include Bhavish Aggarwal, Indus Trust, Alpha Wave Ventures II, LP, Alpine Opportunity Fund VI, L.P., Internet Fund III Pte Ltd, MacRitchie Investments Pte. Ltd., Matrix Partners India Investments III, LLC, SVF II Ostrich (DE) LLC, Tekne Private Ventures XV, Ltd., among others.
Market Potential and Growth Prospects
Ola Electric, being a leading player in the electric vehicle industry, is well-positioned to capitalize on the growing demand for sustainable transportation solutions. The company’s focus on innovation and strategic investments is expected to drive significant growth.
Risks and Challenges
- First public issue of equity shares, indicating no formal market for the equity shares.
- Investments involve a degree of risk, and investors should be cautious and rely on their own examination of the company and offer.
Pros and Cons
Pros
- Growth Potential: Significant growth potential in the electric vehicle market.
- Market Leader: Ola Electric is a recognized brand with strong market presence.
- Innovative Product Line: Focus on innovative and sustainable transportation solutions.
- Strong Promoter and Investor Backing: Prominent backers and experienced promoters.
- Strategic Investments: Funds raised will aid in scaling operations and technological advancements.
Cons
- Market Risks: Uncertain market conditions and potential volatility.
- Regulatory Challenges: Potential regulatory hurdles in the electric vehicle sector.
- High Competition: Intense competition from other established and emerging players.
- Financial Risks: Risk of not achieving projected financial targets.
- Dependence on External Factors: Reliance on factors such as government policies and consumer adoption of electric vehicles.
Conclusion
The IPO of Ola Electric Mobility Limited presents a promising opportunity for investors looking to invest in a leading player in the electric vehicle market. With significant growth potential, strong promoter backing, and a strategic focus on innovation, Ola Electric is poised for substantial growth. However, potential investors should carefully consider the associated risks and market conditions before making an investment decision.
FAQs About Ola Electric Mobility Limited Ipo
Ola Electric Mobility Limited IPO will open on 02 Aug, 2024 and close on 06 Aug, 2024. Investors must apply within this period to participate.
The Ola Electric Mobility Limited IPO price band is set between ₹72.00 and ₹76.00 per share. The minimum lot size is 195, requiring an investment of at least ₹14820.00.
The Ola Electric Mobility Limited IPO shares are expected to be listed on 09 Aug, 2024, subject to regulatory approvals and final allotment.
You can track your Ola Electric Mobility Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Ola Electric Mobility Limited IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.