OLA Electric IPO Details - IPO Date, Price, GMP, Analysis & Review (2024)

August 2, 2024 - August 6, 2024

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OLA Electric IPO Details - IPO Date, Price, GMP, Analysis & Review (4)

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.

OLA Electric IPO Details

IPO DateAugust 2, 2024 to August 6, 2024
Listing Date[.]
Face Value₹10 per share
Price Band₹72 to ₹76 per share
Lot Size195 Shares
Total Issue Size808,626,207 shares
(aggregating up to ₹6,145.56 Cr)
Fresh Issue723,684,210 shares
(aggregating up to ₹5,500.00 Cr)
Offer for Sale84,941,997 shares of ₹10
(aggregating up to ₹645.56 Cr)
Employee DiscountRs 7 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue3,687,072,258
Share holding post issue4,410,756,468

OLA Electric IPO Reservation

Investor Category Shares Offered
QIB Shares OfferedNot less than 75% of the Net Issue
Retail Shares OfferedNot more than 10% of the Net Issue
NII (HNI) Shares OfferedNot more than 15% of the Net Issue

OLA Electric IPO Anchor Investors Details

OLA Electric IPO raises Rs 2,763.03 crore from anchor investors. OLA Electric IPOAnchor bid date is August 1, 2024.OLA Electric IPOAnchor Investors list

Bid DateAugust 1, 2024
Shares Offered363,556,135
Anchor Portion Size (In Cr.)2,763.03
Anchor lock-in period end date for 50% shares (30 Days)September 6, 2024
Anchor lock-in period end date for remaining shares (90 Days)November 5, 2024

OLA Electric IPO Timeline (Tentative Schedule)

OLA Electric IPO opens on August 2, 2024, and closes on August 6, 2024.

IPO Open DateFriday, August 2, 2024
IPO Close DateTuesday, August 6, 2024
Basis of AllotmentWednesday, August 7, 2024
Initiation of RefundsThursday, August 8, 2024
Credit of Shares to DematThursday, August 8, 2024
Listing DateFriday, August 9, 2024
Cut-off time for UPI mandate confirmation5 PM on August 6, 2024

OLA Electric IPO Lot Size

Investors can bid for a minimum of 195 shares and in multiples thereof. Thebelow table depicts the minimum and maximum investment by retail investors and HNI in terms ofshares and amount.

ApplicationLotsSharesAmount
Retail (Min)1195₹14,820
Retail (Max)132535₹192,660
S-HNI (Min)142,730₹207,480
S-HNI (Max)6713,065₹992,940
B-HNI (Min)6813,260₹1,007,760
Lot Size Calculator

OLA Electric IPO Promoter Holding

The promoter of the Company is Bhavish Aggarwal.

Share Holding Pre Issue85.77%
Share Holding Post Issue

About Ola Electric Mobility Limited

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.

Ola Electric Mobility Limited Financial Information (Restated Consolidated)

Ola Electric Mobility Limited's revenue increased by 88.42% and profit after tax (PAT) dropped by -7.63% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended31 Mar 202431 Mar 202331 Mar 202231 Mar 2021
Assets7,735.415,573.175,395.862,112.64
Revenue5,243.272,782.70456.26106.08
Profit After Tax-1,584.40-1,472.08-784.15-199.23
Net Worth2,019.342,356.443,661.451,970.62
Reserves and Surplus-2,882.54-1,380.03-68.831,999.30
Total Borrowing2,389.211,645.75750.4138.87
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of OLA Electric IPO is Rs 33521.75 Cr.

KPI as of March 31, 2024.

KPIValues
RoNW-78.46%
P/BV13.72

Check OLA Electric IPO Peer Comparison here.

Pre IPOPost IPO
EPS (Rs) -4.3-3.59
P/E (x) -17.69-21.16

Note:

  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latestFY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FYearnings of March 31, 2024 that is available in RHP.

Objects of the Issue (OLA Electric IPO Objectives)

The company proposes to utilise the Net Proceeds towards funding the following objects:

  • Capital expenditure to be incurred by its Subsidiary, OCT for expansion of the capacity of its cell manufacturing plant from 5GWh to 6.4 GWh, classified as phase 2 under the expansion plan(the "Project");
  • Repayment or pre-payment, in full or part, of the indebtedness incurred by its Subsidiary, OET;
  • Investment into research and product development;
  • Expenditure to be incurred for organic growth initiatives; and
  • General corporate purposes.

OLA Electric IPO Review (May apply)

[Dilip Davda] The company is a pure E2W play emerging leader and with many big and small company’s dropping their hat in the fray, sphere competition is shaping ahead. Ola has laid down its future path with its future factory and Gigafactory to take on any kind of competition. In fact, the company is planning to enter E-2W bikes, three wheeler, cars and most importantly the 4680 Li-thion battery where it mulls it making a global hub for EV batteries. While its top line has been surging year-on-year, its bottom line marked improvement in reduced losses. No doubt it will take some more time to turn the corner and wipe out the losses. Thus it’s a pure long term investment bet. Well-informed investors may park moderate funds for long term. Read detail review...

OLA Electric IPO Prospectus

OLA Electric IPO Rating

15

2.2

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Ola Electric Mobility Limited Contact Details

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 Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: olaelectric.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

OLA Electric IPO - Buy or Not

OLA Electric IPO Recommendation Summary

Review BySubscribeNeutralAvoid
Brokers320
Members103

Read All ReviewsPost Your Review Manage Reviews

OLA Electric IPO Lead Manager(s)

  1. Kotak Mahindra Capital Company Limited (Past IPO Performance)
  2. Bofa Securities India Limited (Past IPO Performance)
  3. Axis Capital Limited (Past IPO Performance)
  4. SBI Capital Markets Limited (Past IPO Performance)
  5. Citigroup Global Markets India Private Limited (Past IPO Performance)
  6. Goldman Sachs (India) Securities Private Limited (Past IPO Performance)
  7. ICICI Securities Limited (Past IPO Performance)
  8. Bob Capital Markets Limited (Past IPO Performance)

Lead Manager Reports

  • IPO Lead Manager Performance Summary
  • IPO Lead Manager PerformanceTracker

OLA Electric IPO FAQs

OLA Electric IPO is a main-board IPO of 808,626,207 equity shares of the face value of ₹10 aggregating up to ₹6,145.56 Crores. The issue is priced at ₹72 to ₹76 per share. The minimum order quantity is 195 Shares.

The IPO opens on August 2, 2024, and closes on August 6, 2024.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in OLA Electric IPO using UPI as a payment gateway. Zerodha customers can apply in OLA Electric IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in OLA Electric IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'OLA Electric IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The OLA Electric IPO opens on August 2, 2024 and closes on August 6, 2024.

OLA Electric IPO lot size is 195 Shares, and the minimum amount required is ₹14,820.

You can apply in OLA Electric IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for OLA Electric IPO will be done on Wednesday, August 7, 2024, and the allotted shares will be credited to your demat account by Thursday, August 8, 2024. Check the OLA Electric IPO allotment status.

The OLA Electric IPO listing date is not yet announced. The tentative date of OLA Electric IPO listing is Friday, August 9, 2024.

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OLA Electric IPO Details - IPO Date, Price, GMP, Analysis & Review (2024)

FAQs

OLA Electric IPO Details - IPO Date, Price, GMP, Analysis & Review? ›

"Ola Electric's EV/sales ratio of 7.2 times (FY24) appears expensive. Despite current profitability challenges and valuation concerns, we recommend a 'subscribe' rating for high-risk investors with a long-term outlook," it said.

Is it good to buy Ola Electric IPO? ›

"Ola Electric's EV/sales ratio of 7.2 times (FY24) appears expensive. Despite current profitability challenges and valuation concerns, we recommend a 'subscribe' rating for high-risk investors with a long-term outlook," it said.

What is GMP price in IPO? ›

What is GMP? Grey market premium or GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges. For instance, LIC fixes its IPO price at Rs 90 per share and its IPO GMP is 50, then the organisation will get listed at Rs 140.90.

What is the tentative date of Ola IPO? ›

The company has kept the price band between Rs 72 to Rs 76 per equity share. The allotment of shares is expected to be finalised on August 07. The listing is likely to take place on August 09 on NSE and BSE, as per the tentative schedule.

Is GMP a good indicator for IPO? ›

The GMP can be positive or negative. A positive GMP indicates that an IPO may perform well after listing, while a negative GMP reflects the poor performance of the IPO. A stock with a higher GMP may list at a good premium, while a stock with a lower or negative GMP may list at a discount.

Who invested in Ola Electric? ›

On Thursday, the company mobilised ₹2,763 crore from anchor investors, including SBI Mutual Fund (MF), HDFC MF, Nippon India MF, Bharti Axa Life Insurance Company, Kotak Mahindra Life Insurance Company, Nomura India Investment Fund, Goldman Sachs (Singapore) Pte Ltd and Fidelity.

Is buying IPO is good or bad? ›

Buying an IPO can be a good idea. It's a regular practice of crossover investors who get in on the ground floor of a stock with high upside potential. They may reap the rewards at some point in the future as the stock appreciates over time.

Which IPO is best to buy? ›

Top 10 IPO in India 2024 (By Performance)
Company NameListing DateIssue Price (Rs)
Platinum Industries LimitedMar 05, 2024171
Vibhor Steel Tubes LimitedFeb 20, 2024151
DEE Development Engineers LimitedJun 26, 2024203
JNK India LimitedApr 30, 2024415
6 more rows

What if GMP is high? ›

It is a useful indicator of the listing gains an investor might make. If the GMP is high, it could mean that the share price may list at a higher price on the stock exchange. A high GMP could indicate high demand for the IPO and vice versa. However, the GMP is not always accurate, and it can be volatile.

What is IPO cutoff price? ›

The "cut-off price" in an IPO is the price determined based on evaluation of the company's financials, market conditions, and demand for its shares. It is the price at which investors can place bids for shares during the IPO subscription period.

Who is the parent company of OLA Electric IPO? ›

OLA Electric, founded in 2017, is the EV arm of ANI Technologies, the parent company of OLA Cabs. The company's mission is to ensure that clean mobility solutions are accessible and affordable to the masses. OLA Electric has seen significant growth over the past few years.

Which IPO is best to buy in 2024? ›

What are some of the upcoming IPOs in 2024-25? Different types of upcoming IPOs will be listed in 2024-25. Some of them are as follows: Indegene Ltd IPO, Aadhar housing Finance IPO, TBO Tek IPO, Ola IPO, Snapdeal IPO, Fabindia Limited IPO, MobiKwik IPO, Ixigo IPO, Go Airlines IPO etc.

Which banks are going to IPO with Ola? ›

These include SBI MF, HDFC MF, Nippon MF, Templeton Global, Nomura, Amundi, Jupiter Global and Goldman Sachs. Ola's IPO, the biggest in the domestic markets in over two years, closes on Tuesday. The Softbank-backed Ola has set the price band of Rs 72-76 per share for its maiden share sale.

Does GMP affect listing price? ›

The GMP does not directly affect the actual IPO price. However, knowing the GMP rate can help an investor predict at what price the IPO might be traded.

What is the difference between IPO price and GMP? ›

The IPO GMP (IPO Grey Market Premium) refers to the difference between the IPO's issue price and its trading price in the grey market. Before an IPO officially hits the stock exchanges for public trading, there is a period during which unofficial trading of the IPO shares takes place in the grey market.

How do you know if an IPO will be successful? ›

One of the most cited indicators of success is the “first day pop”—i.e., the increase between a company's opening and closing trading prices. This phenomenon, known as underpricing, reveals the extent to which a stock's IPO price is undervalued.

Should I invest in an electric scooter? ›

Will an electric scooter ever replace my car? Owning an electric scooter is clearly a strong investment as a means of transportation, but the benefits of ownership go beyond the great value that they provide. Your electric scooter will likely cost below ten percent of what you would pay for a new car.

How do you know if an IPO is a good investment? ›

The following are the five factors you should consider before investing in an IPO:
  1. The issuing company's financials. Before investing in an IPO, know the issuing company's financials as much as possible. ...
  2. Promoters in the company. ...
  3. Strengths and risks. ...
  4. The valuation of the IPO. ...
  5. Prevailing market conditions. ...
  6. To conclude.

What is the issue price of Ola Tech IPO? ›

Olatech Solutions Ltd. IPO Details
Minimum InvestmentLot SizeIssue Price
₹108,0004000₹27

Who is behind Ola Electric? ›

Ola, founded by Bhavish Aggarwal, will use a major chunk of the IPO proceeds to invest in its in-house cell manufacturing which will be used to power its own scooters.

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