Ola Electric Mobility Ltd IPO
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Ola Electric Mobility Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 8,086.26 L | ₹ 849.42 L | ₹ 807.9 L | ₹ 16,644.13 L | BSE | ₹ 6145.56 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 02 Aug, 24 | 06 Aug, 24 | 195 | ₹ 14,040 | Book Building | 09 Aug, 24 |
Ola Electric Mobility Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Automobiles - Motorcycles |
| Sub Sector | Mopeds |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 2.21x | 605926893 | 1340339910 |
| NII | 2.52x | 121185379 | 304972980 |
| Retail | 4.11x | 80790252 | 332444970 |
| Employee | 14.02x | 723684 | 10146045 |
| Total | 2.46x | 808626208 | 1987903905 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Ola Electric Mobility Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 2,630.93 | 373.42 | 0.86 |
| EBITDA | -23.94 | -208.93 | -84.89 |
| PAT | -38.74 | -222.89 | -103.69 |
| Total Assets | 1,677.89 | 2,119.45 | 1,398.05 |
| Share Capital | 3,765.15 | 3,759.57 | 0.02 |
| Total Borrowings | 422.55 | 246.15 | 50.21 |
| Operating Activities (Net Cash) | -31.34 | -215.91 | -94.29 |
| Investing Activities (Net Cash) | 2,508.56 | 1,929.84 | 548.14 |
| Financing Activities (Net Cash) | 422.55 | 246.15 | 50.21 |
| Net Cashflow | 1,224.83 | 1,848.83 | 1,347.76 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Ola Electric Mobility Ltd
Ola Electric Mobility Limited was incorporated as `Ola Electric Mobility Private Limited' at Bengaluru, Karnataka as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated February 3, 2017, issued by the Registrar of Companies, Central Registration Centre. Subsequently, the Company was converted to a public limited company and the name of the Company changed to `Ola Electric Mobility Limited' pursuant to a Shareholders' resolution dated October 5, 2023 and a fresh certificate of incorporation dated November 17, 2023 was issued by the Registrar of Companies, Karnataka at Bengaluru (RoC).
E2Ws are at the forefront of the electrification of mobility in India due to their favourable total cost of ownership and the Indian government's production-linked incentives and subsidies to promote domestic manufacturing and adoption of EVs. E2W penetration in India is expected to expand from approximately 5.4% of domestic 2W registrations in Fiscal 2024 to 41-56% of domestic 2W sales volume by Fiscal 2028, while the Indian E2W industry is expected to grow at a CAGR of 11% to reach a size of US$35 billion (Rs.2.8 trillion) to US$45 billion (Rs.3.6 trillion) in Fiscal 2028. Further, markets like Africa, LATAM and SE Asia provide a significant export opportunity for Indian E2W OEMs.
Ola Electric Mobility Limited is a pure EV player in India building vertically integrated technology and manufacturing capabilities for EVs and EV components. The Company manufactures EVs and certain core EV components at the Ola Futurefactory. The Company has delivered seven products and additionally announced four new products. The Company is building its EV hub in Tamil Nadu, India, comprising its Ola Futurefactory for EV manufacturing, its Ola Gigafactory for cell manufacturing, and co-located suppliers. The Company operates a direct-to-customer omnichannel distribution network across India, comprising 870 experience centres and 431 service centres as at March 31, 2024, and its Ola Electric website.
Peer Comparison:
- TVS Motor Company Ltd
- Eicher Motors Ltd
- Bajaj Auto Ltd
- Hero MotoCorp Ltd
Ola Electric Mobility Ltd IPO Key Points
Strengths
- Pure EV player with a leadership position in the fast-growing Indian E2W market.
- Founder led company supported by a highly experienced and professional leadership team.
- In-house R&D and technology capabilities.
- Manufacturing at scale and supply chain resilience.
- Scalable platform-based design and development approach.
Risk
- The company, including its Material Subsidiaries, Ola Electric Technologies Private Limited (OET) and Ola Cell Technologies Private Limited (OCT), have incurred losses and negative cash flows from operations since inception.
- The company has a limited operating history in manufacturing EVs. There is no assurance that the company will be cost effective in its operations or profitable in the future, whether at the holding company level or at the subsidiary level.
- The company has heavily invested in and plan to continue investing in research and development (R&D) and technology. There is no assurance that its will realise returns on such investments.
Strategy
- Build India centric EV products with an India first strategy.
- Continue to invest in R&D to advance its technological capabilities and optimize costs.
- Building an EV hub with vertically integrated manufacturing and supply chain to improve cost efficiency.
- Develop its cell technology and strengthen its in-house manufacturing capabilities.
- Expand the product portfolio to drive market penetration.
- Pure EV player with a leadership position in the fast-growing Indian E2W market.
- Founder led company supported by a highly experienced and professional leadership team.
- In-house R&D and technology capabilities.
- Manufacturing at scale and supply chain resilience.
- Scalable platform-based design and development approach.
How To Apply for Ola Electric Mobility Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.