Listing Details
- Listing Exchange -
- Listing Date 09-Aug-24
- IPO Price Range ₹72
- Listing Price ₹75.99
- Listing Change 0.0 %
- Last Traded Price ₹93.67
- Current Change 23.3 %
Ola Electric IPO Details
- Open Date TBA
- Close Date TBA
- Lot Size -
- IPO Size -
- IPO Price Range -
- Min Investment -
- Listing Exchange -
- Basis of Allotment TBA
- Refunds TBA
- Credit to Demat Account TBA
- Listing Date TBA
Ola Electric IPO Synopsis
OLA Electric Mobility Limited IPO is likely to open in 2024. OLA Electric operates as a pure EV player. The IPO includes a fresh issue worth ₹5500 cr and an Offer-for-Sale (OFS) of 95,191,195 Equity Shares. The share allotment date and listing date are yet to be announced. The price band and the lot size are yet to be declared.
Kotak Mahindra Capital Company Limited, BofA Securities India Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited, SBI Capital Markets Limited, and BOB Capital Markets Limited are the book-running lead managers for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of OLA Electric Mobility IPO:
● To fund capital expenditure to be incurred by the Subsidiary, OCT for expansion of the capacity of the cell manufacturing plant from 5 GWh to 6.4 GWh, classified as phase 2 under the expansion plan.
● To repay or prepay, in part or full, borrowings obtained by the subsidy OCT.
● For research and product development.
● To fund organic growth initiatives.
● For corporate general purposes.
About Ola Electric Mobility
OLA Electric Mobility Limited operates as a pure EV player. The company makes EVs and core EV components like battery packs, motors and vehicle frames at the Ola Future factory. The company has the highest revenue of all Indian incorporated electric 2Ws (E2Ws) original equipment manufacturers (“OEMs”) from E2W sales in FY2023.
The company’s R&D activities take place in India as well as the UK and the US with a focus on the design and development of various EVs and EV components. OLA is also planning to build its EV hub in Krishnagiri and Dharmapuri in Tamil Nadu, India.
As of October 2023, in addition to its website, the company has its own network of D2C omnichannel distribution which includes 935 experience centres and 414 service centres across India.
Peer Comparison:
● TVS Motors Limited
● Eicher Motors Limited
● Bajaj Auto Limited
● Hero MotoCorp Limited
Ola Electric Mobility Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 2630.92 | 373.42 | 0.86 |
| EBITDA | -1197.09 | -717.55 | -178.82 |
| PAT | -1472.07 | -784.15 | -199.23 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 5573.16 | 5395.86 | 2112.64 |
| Share Capital | 1955.45 | 1955.45 | 0.010 |
| Total Borrowings | 3216.72 | 1734.41 | 142.02 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | -1507.27 | -884.95 | -252.02 |
| Net cash from / (used in) investing activities | -318.55 | -1321.82 | 548.94 |
| Net cash flow from / (used in) financing activities | 658.70 | 3084.82 | 3.15 |
| Net increase (decrease) in cash and cash equivalents | -1167.11 | 878.04 | 300.06 |
Ola Electric IPO Key Points
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Strengths
1. The company is a pure EV player with a leadership position in the fast-growing Indian E2W market.
2. It has in-house capabilities to develop EV technologies.
3. In terms of production capacity, it is the biggest integrated and automated E2W manufacturing plant in the country.
4. The company has a scalable platform-based design and development approach.
5. It works on the D2C business model.
6. The company benefits from EV-related government incentives leading to cost advantages.
7. Experienced Promoters and Senior Management.
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Risks
1. The company has a limited operating history and has incurred losses and negative cash flows from operations.
2. The company is prone to many risks that could hinder its in-house cell manufacturing capabilities at the Ola Gigafactory.
3. Any reduction or elimination of government incentives can impact the business.
4. Operates in a highly competitive and fast-evolving automotive market.
5. Revenue is dependent on the sale of limited electric vehicle scooter models.
6. It has significant working capital requirements.
How to apply for IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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Ola Electric IPO FAQs
When does the OLA Electric Mobility IPO open and close?
Yet to be announced.
What is the size of the OLA Electric Mobility IPO?
Yet to be announced.
How to apply for the OLA Electric Mobility IPO?
To apply for OLA Electric Mobility IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the OLA Electric Mobility Limited IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
What is the price band of OLA Electric Mobility IPO?
Yet to be announced.
What is the minimum lot size and investment required for the OLA Electric Mobility IPO?
Yet to be announced.
What is the allotment date of the OLA Electric Mobility IPO?
Yet to be announced.
What is the OLA Electric Mobility IPO listing date?
Yet to be announced.
Who are the book runners for the OLA Electric Mobility Limited IPO?
Kotak Mahindra Capital Company Limited, BofA Securities India Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited, SBI Capital Markets Limited, and BOB Capital Markets Limited are the book-running lead managers for OLA Electric Mobility IPO.
What is the objective of OLA Electric Mobility IPO?
OLA Electric Mobility Limited will use proceeds from the offer for:
● To fund capital expenditure to be incurred by the Subsidiary, OCT for expansion of the capacity of the cell manufacturing plant from 5 GWh to 6.4 GWh, classified as phase 2 under the expansion plan.
● To repay or prepay, in part or full, borrowings obtained by the subsidy OCT.
● For research and product development.
● To fund organic growth initiatives.
● For corporate general purposes.