Ola Electric Mobility Ltd IPO

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.

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50years

Ola Electric Mobility Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
₹ 8,086.26 L₹ 849.42 L₹ 807.9 L₹ 16,644.13 LBSE₹ 6145.56 Cr
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
02 Aug, 2406 Aug, 24195 ₹ 14,040 Book Building09 Aug, 24

Ola Electric Mobility Ltd IPO Dates

  • 02 Aug 2024

    Opening date

  • 06 Aug 2024

    Closing date

  • 07 Aug 2024

    Basis of
    Allotment

  • 08 Aug 2024

    Initiation of
    Refunds

  • 08 Aug 2024

    Credit of
    Shares

  • 09 Aug 2024

    Listing date

Details

SectorType
SectorAutomobiles - Motorcycles
Sub SectorMopeds
Issue TypeBook Building

Subscription Status

*Values are in Lakhs

Investor TypeSubscription TimesShares Offered*Shares Bid*
QIB2.21x6059268931340339910
NII2.52x121185379304972980
Retail4.11x80790252332444970
Employee14.02x72368410146045
Total2.46x8086262081987903905

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)FY23FY22FY21
Revenue from operations-31.34-215.91-94.29
EBITDA-23.94-208.93-84.89
PAT-38.74-222.89-103.69
Total Assets1,677.892,119.451,398.05
Share Capital3,765.153,759.570.02
Total Borrowings422.55246.1550.21
Operating Activities (Net Cash)-31.34-215.91-94.29
Investing Activities (Net Cash)2,508.561,929.84548.14
Financing Activities (Net Cash)422.55246.1550.21
Net Cashflow1,224.831,848.831,347.76

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.

Get your FAQs right

Ola Electric Mobility Ltd's IPO offers shares for up to ₹ 0.06 L It begins on Aug 2, 2024 and ends on Aug 6, 2024.

The price of Ola Electric Mobility Ltd IPO ranges between ₹72 to ₹76 per share.

The Ola Electric Mobility Ltd IPO opens on Aug 2, 2024 and closes on Aug 6, 2024.

The allotment for the Ola Electric Mobility Ltd IPO will be finalised on Aug 7, 2024. The shares will be listed on BSE and NSE on Aug 9, 2024.

The minimum lot size for Ola Electric Mobility Ltd IPO is 195 shares, priced between ₹72 to ₹76 per share.

The GMP (Grey Market Premium) of Ola Electric Mobility Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Ola Electric Mobility Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Ola Electric Mobility Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Aug 2, 2024, and closes on Aug 6, 2024. The allotment is finalised on Aug 7, 2024.

To apply for the Ola Electric Mobility Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.