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Ola Electric Mobility IPO is a book build issue of ₹6,145.56 crores. The issue is a combination of fresh issue of 72.38 crore shares aggregating to ₹5,500.06 crores and offer for sale of 8.49 crore shares aggregating to ₹645.50 crores.
Ola Electric Mobility IPO bidding started from Aug 2, 2024 and ended on Aug 6, 2024. The allotment for Ola Electric Mobility IPO was finalized on Aug 7, 2024. The shares got listed on BSE, NSE on Aug 9, 2024.
Ola Electric Mobility IPO price band is set at ₹76.00 per share . The lot size for an application is 195. The minimum amount of investment required by an retail is ₹14,040 (195 shares). The lot size investment for sNII is 14 lots (2,730 shares), amounting to ₹2,07,480, and for bNII, it is 68 lots (13,260 shares), amounting to ₹10,07,760.
The issue includes a reservation of up to 7,97,101 shares for employees offered at a discount of ₹7.00 to the issue price.
Kotak Mahindra Capital Co.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Ola Electric Mobility IPO RHP for detailed Information.
| IPO Date | August 2, 2024 to August 6, 2024 |
| Listing Date | August 9, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹72 to ₹76 per share |
| Issue Price Final | ₹76 per share |
| Lot Size | 195 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 80,86,99,624 shares (aggregating up to ₹6,145.56 Cr) |
| Fresh Issue | 72,37,57,627 shares (aggregating up to ₹5,500.06 Cr) |
| Offer for Sale | 8,49,41,997 shares of ₹10 (aggregating up to ₹645.50 Cr) |
| Employee Discount | ₹7.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,68,70,72,258 shares |
| Share Holding Post Issue | 4,41,07,56,468 shares |
OLA Electric IPO offers total 80,86,99,624 shares. Out of which 60,59,26,893 (74.93%) allocated to QIB, 24,23,70,758 (29.97%) allocated to QIB, 12,11,85,378 (14.99%) allocated to NII, 8,07,90,252 (9.99%) allocated to RII and 36,35,56,135 (44.96%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 60,59,26,893 (74.93%) | NA |
| − Anchor Investor Shares Offered | 36,35,56,135 (44.96%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 24,23,70,758 (29.97%) | NA |
| NII (HNI) Shares Offered | 12,11,85,378 (14.99%) | NA |
| − bNII > ₹10L | 8,07,90,252 (9.99%) | 29,593 |
| − sNII < ₹10L | 4,03,95,126 (5.00%) | 14,796 |
| Retail Shares Offered | 8,07,90,252 (9.99%) | 4,14,308 |
| Employee Shares Offered | 7,97,101 (0.10%) | NA |
| Total Shares Offered | 80,86,99,624 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Ola Electric Mobility IPO raises ₹2,763.03 crore from anchor investors. Ola Electric Mobility IPO Anchor bid date is August 1, 2024. Ola Electric Mobility IPO Anchor Investors list
| Bid Date | August 1, 2024 |
| Shares Offered | 36,35,56,135 |
| Anchor Portion Size (In Cr.) | 2,763.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 4, 2024 |
Ola Electric Mobility IPO opens on August 2, 2024, and closes on August 6, 2024.
| IPO Open Date | Fri, Aug 2, 2024 |
| IPO Close Date | Tue, Aug 6, 2024 |
| Tentative Allotment | Wed, Aug 7, 2024 |
| Initiation of Refunds | Thu, Aug 8, 2024 |
| Credit of Shares to Demat | Thu, Aug 8, 2024 |
| Tentative Listing Date | Fri, Aug 9, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Aug 6, 2024 |
Investors can bid for a minimum of 195 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 195 | ₹14,820 |
| Retail (Max) | 13 | 2,535 | ₹1,92,660 |
| S-HNI (Min) | 14 | 2,730 | ₹2,07,480 |
| S-HNI (Max) | 67 | 13,065 | ₹9,92,940 |
| B-HNI (Min) | 68 | 13,260 | ₹10,07,760 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:
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'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 Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 7,735.41 | 5,573.17 | 5,395.86 | 2,112.64 |
| Total Income | 5,243.27 | 2,782.70 | 456.26 | 106.08 |
| Profit After Tax | -1,584.40 | -1,472.08 | -784.15 | -199.23 |
| Net Worth | 2,019.34 | 2,356.44 | 3,661.45 | 1,970.62 |
| Reserves and Surplus | -2,882.54 | -1,380.03 | -68.83 | 1,999.30 |
| Total Borrowing | 2,389.21 | 1,645.75 | 750.41 | 38.87 |
| Amount in ₹ Crore | ||||
The market capitalization of Ola Electric Mobility IPO is ₹33521.75 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| RoNW | -78.46% |
| Price to Book Value | 13.72 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | -4.30 | -3.59 |
| P/E (x) | -17.69 | -21.16 |
The company proposes to utilise the Net Proceeds towards funding the following objects:
[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...
| Listing Date | August 9, 2024 |
| BSE Script Code | 544225 |
| NSE Symbol | OLAELEC |
| ISIN | INE0LXG01040 |
| Final Issue Price | ₹76 per share |
| BSE Listing Group | B |
Ola Electric Mobility Ltd.
Regent Insignia, #414, 3rd Floor, 4th Block
17thMain100 Feet Road, Koramangala
Bengaluru 560034
Bengaluru, Karnataka
Phone: +91 80 3544 0050
Email: ipo@olaelectric.com
Website: https://www.olaelectric.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: olaelectric.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Lead Manager Reports
Ola Electric Mobility IPO is a main-board IPO of 80,86,99,624 equity shares of the face value of ₹10 aggregating up to ₹6,145.56 Crores. The issue is priced at ₹76 per share. The minimum order quantity is 195.
The IPO opens on August 2, 2024, and closes on August 6, 2024.
MUFG Intime India Pvt.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 Mobility IPO using UPI as a payment gateway. Zerodha customers can apply in Ola Electric Mobility IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ola Electric Mobility IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ola Electric Mobility IPO opens on August 2, 2024 and closes on August 6, 2024.
Ola Electric Mobility IPO lot size is 195, and the minimum amount required for application is ₹14,820.
You can apply in Ola Electric Mobility IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ola Electric Mobility 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 Mobility IPO allotment status.
The Ola Electric Mobility IPO listing date is on Friday, August 9, 2024.
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