07-Mar-2024
2 mins read
The Initial Public Offering (IPO) of OLA Electric Mobility Limited, a book-built issue. The fresh issue worth Rs 550 Crore and an offer for sale amount has not yet disclosed however aggregated shares would be up to 95,191,195 Equity Shares. The price band and lot size for the old Electric has not yet announced. The opening and closing date for the subscription will be announced in upcoming time. The Lead managers of IPO are Kotak Mahindra Capital Company Limited, BofA Securities India Limited, Axis Capital Limited, SBI Capital Markets Limited, Citigroup Global Markets India Pvt Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited and BOB Capital Markets Limited and the lead managers of. The listing will be on both exchanges, i.e., the National Stock Exchange and the Bombay Stock Exchange.
About Ola Electric Mobility Limited
OLA Electric stands as a prominent player in India’s electric vehicle (EV) landscape, exclusively dedicated to EVs. They are actively engaged in constructing a comprehensive infrastructure for EVs, encompassing technology and manufacturing capabilities, including cell production. Operations take place at the Ola Future factory, where they craft EVs and essential components such as battery packs, motors, and vehicle frames. The company strategically focuses on seizing opportunities emerging from the growing trend of electrifying mobility in India. Additionally, they harbor ambitions to venture into international markets, having delivered four products and unveiled six more since their initial product announcement in August 2021. Starting the EV journey with the Ola S1 Pro in December 2021, OLA subsequently rolled out the Ola S1 (September 2022), Ola S1 Air (August 2023), and Ola S1 X+ (December 2023). Further expanding their product line, OLA introduced new EV scooter models, namely Ola S1 X (2 kWh) and Ola S1 X (3 kWh), along with a line-up of motorcycles – Adventure, Diamondhead, Roadster and Cruiser on August 15, 2023. Anticipating deliveries by the first half of Fiscal 2025 for the Ola S1 X scooters and the first half of Fiscal 2026 for the motorcycles, OLA is strategically positioned. Noteworthy is their remarkable achievement – securing the highest revenue among Indian electric two-wheeler OEMs in Fiscal 2023, according to the Redseer Report. Within nine months of introducing their first EV scooter, OLA emerged as the top-selling E2W brand in India, based on monthly registrations on the VAHAN Portal of the Ministry of Road Transport and Highways, as highlighted in the latest Redseer Report.
Primary Objectives of Ola Electric IPO
A portion of the Net Proceeds is proposed by the company to be utilised for repayment or pre-payment, in full or part, all or a portion of certain loans availed by our Subsidiaries from Axis Bank Limited and Bank of Baroda, affiliates of certain BRLMs to the Offer.
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Financial Performance of Ola Electric Mobility Limited (In Rs Crore)
The Company reported its net revenue of 5,711.12Cr and Loss after Tax of 267.16Cr as of June 31, 2023; OLA Electric Mobility Limited witnessed a 54.04% however company reported Rs. 2111.51 Cr as a Net worth as on 20 June 2023.
| Period Ended | 30-Jun-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 5,711.12 | 5,573.17 | 5,395.86 | 2,112.64 |
| Revenue | 1,278.68 | 2,782.70 | 456.26 | 106.08 |
| Loss After Tax | -267.16 | -1,472.01 | -784.15 | -199.23 |
| Net Worth | 2,111.51 | 2,356.44 | 3,661.45 | 1,970.61 |
| Reserves and Surplus | -1,625.90 | -1,380.03 | -68.83 | 1,999.30 |
| Total Borrowing | 1,616.57 | 1,645.75 | 750.41 | 38.87 |
Important Details of Ola Electric IPO 2024
| IPO Date | Yet to be announced |
| Listing Date | Yet to be announced |
| Face Value | Rs. 10 |
| Price Band | Yet to be announced |
| Lot Size | Yet to be announced |
| Total Issue Size | Yet to be announced |
| Fresh Issue | Rs.5500 crore |
| Offer for Sale | Up to 95,191,195 shares |
| Employee Discount | Yet to be announced |
| Issue Type | Book Building |
| Listing At | BSE and NSE |
| Shareholding pre issue | Yet to be announced |
| Shareholding post issue | Yet to be announced |
Tentative Timetable of Ola Electric IPO 2024
| IPO Open Date | Yet to be announced |
| IPO Close Date | Yet to be announced |
| Basis of Allotment | Yet to be announced |
| Initiation of Refunds | Yet to be announced |
| Credit of Shares to Demat | Yet to be announced |
| Listing Date | Yet to be announced |
| Cut-off time for UPI mandate confirmation | Yet to be announced |
IPO Reservation of Ola Electric Mobility Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | not more than 15% |
| Retail Shares Offered | not more than 10% |
| NII (HNI) Shares Offered | – |
Key Performance Indicator of Ola Electric Mobility Limited
| KPI | Values |
| ROE | – |
| ROCE | – |
| Debt/Equity | – |
| RoNW (WA) | 40.06% |
| EPS (WA) | Rs. 2.80 |
| P/BV | – |
| PAT Margin (%) | – |
Promoter Holding of Ola Electric Mobility Limited
| Shareholding Pre Issue | 36.94% |
| Shareholding Post Issue | – |
Promoters of the Ola Electric Mobility Limited
The promoter of Ola electric is Bhavish Aggarwal.
Lead Manager(s) of Ola Electric Mobility Limited
The lead manager(s) of OLA Electric are Kotak Mahindra Capital Company Limited, BofA Securities India Limited, Axis Capital Limited, SBI Capital Markets Limited, Citigroup Global Markets India Pvt Limited, Goldman Sachs Securities Pvt Limited, ICICI Securities Limited and BOB Capital Markets Limited.
How to Apply for Ola Electric IPO?
Wait for the public issue to open for subscription, then click here to apply for the OLA Electric Mobility Limited IPO 2024 with Bigul.
How to Check Allotment Status of Ola Electric IPO?
The registrar for OLA Electric IPO is not yet disclosed. You can check your allotment status by clicking here.
FAQs
- When is the IPO scheduled to open and close?
Ola Electric IPO subscription opening and closing date are yet to be disclosed.
- What will be the price band for the IPO?
Ola Electric IPO price band is not yet disclosed.
- What are the main objectives of this IPO?
A portion of the Net Proceeds is proposed by the company to be utilised for repayment or pre-payment, in full or part, all or a portion of certain loans availed by our Subsidiaries from Axis Bank Limited and Bank of Baroda, affiliates of certain BRLMs to the Offer.
- How has Ola Electric Mobility Limited performed financially?
The Company reported its net revenue of 5,711.12Cr and Loss after Tax of 267.16Cr as of June 31, 2023; OLA Electric Mobility Limited witnessed a 54.04% however company reported Rs. 2111.51 Cr as a Net worth as on 20 June 2023.
- What are the key performance indicators of Ola Electric Mobility Limited?
Key performance indicators include an Return on Net Worth of -12.65% as of June 30, 2023 and -62.47% as of March 31,2024.
- How can I apply for the Ola Electric IPO?
Once the OLA Electric IPO opens, you can apply for it by clicking here with us on bigul.
- How can I check the allotment status of this IPO?
Investors can checkout the allotment status of the OLA Electric IPO by visiting here.
- Who are the promoters of Ola Electric Mobility Limited?
The promoter of Ola electric is Bhavish Aggarwal.
- Where will the IPO be listed?
The IPO will be listed on the BSE and the NSE
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