Ola Electric IPO
IPO Listing Details
- Listing Date
09 Aug 2024
- Listing Price
₹75.99
- Listing Change
-0.01%
- Last Traded Price
₹67.53
IPO Details
- Open Date
02 Aug 2024
- Close Date
06 Aug 2024
- IPO
Price Range
₹ 72 to ₹ 76
- IPO
Size
₹ 6145.56 Cr
- Listing Exchange
BSE, NSE
- Listing Date
09 Aug 2024
IPO Timeline
Ola Electric IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 2-Aug-2024 | 0.00 | 0.22 | 1.68 | 0.37 |
| 5-Aug-2024 | 0.42 | 1.17 | 3.05 | 1.12 |
| 6-Aug-2024 | 5.53 | 2.51 | 4.05 | 4.45 |
Last Updated: 07 August 2024 10:09 AM by 5Paisa
Last Updated: 6th August 2024, 05:10 PM by 5paisa
OLA Electric Mobility Limited IPO is set to open on 2nd August 2024 and will close on 6th August 2024. OLA Electric operates as a pure EV player. The IPO includes a fresh issue worth ₹5,500.00 Cr and an Offer-for-Sale (OFS) of 645.56 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.
Objectives of OLA Electric 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.
Ola Electric IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 6,145.56 |
| Offer for sale | 645.56 |
| Fresh issue | 5,500.00 |
Ola Electric Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 195 | ₹14,820 |
| Retail (Max) | 13 | 2,535 | ₹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 |
IPO Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 5.53 | 24,23,70,750 | 1,34,03,39,910 | 10,186.583 |
| NII (HNI) | 2.51 | 12,11,85,387 | 30,44,47,845 | 2,313.804 |
| Retail | 4.05 | 8,07,90,252 | 32,70,33,135 | 2,485.452 |
| Total | 4.45 | 44,51,43,490 | 1,98,16,88,475 | 15,060.832 |
OLA Electric IPO Anchor Allocation
| Anchor Bid Date | 1 August, 2024 |
| Shares Offered | 363,556,135 |
| Portion Size for Anchor Investors | 2,763.03 |
| Lock in Period for 50% shares (30 days) | 6 September 2024 |
| Lock in Period for rest of shares (90 days) | 5 November 2024 |
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
For more information
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue | 5,243.27 | 2,782.70 | 456.26 |
| EBITDA | -1,034.14 | -1,100.68 | -717.55 |
| PAT | -1,584.40 | -1,472.08 | -784.15 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Total Assets | 7,735.41 | 5,573.17 | 5,395.86 |
| Share Capital | 1,955.45 | 1,955.45 | 1,955.45 |
| Total Borrowings | 2,389.21 | 1,645.75 | 750.41 |
| Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | -633.09 | -1,507.27 | -884.95 |
| Net cash from / (used in) investing activities | -1,136.28 | -318.55 | -1,321.83 |
| Net cash flow from / (used in) financing activities | 1,589.96 | 658.7 | 3,084.83 |
| Net increase (decrease) in cash and cash equivalents | -179.4 | -1,167.12 | 878.05 |
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.
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.
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FAQs
OLA Electric IPO opens from 2nd August to 6th August 2024.
The size of the OLA Electric IPO is ₹6145.56 Cr.
To apply for OLA Electric 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.
The price band of OLA Electric IPO is fixed at ₹72 to ₹76 per share.
The minimum lot size of OLA Electric IPO is 195 shares and the investment required is ₹14,820.
The share allotment date of OLA Electric IPO is 7th August 2024
The OLA Electric IPO will be listed on 9th August 2024.
Bob Capital Markets Limited
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.
Contact Information
Ola Electric
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 Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: olaelectric.ipo@linkintime.co.in
Website:
Ola Electric IPO Lead Manager
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