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Ola Electric Mobility Limited founded in 2017, is electric vehicle company focused on producing electric vehicles and key components like battery packs, motors and vehicle frames at their Ola Future factory.

Since August 2021 Ola Electric has launched seven new products including Ola S1 Pro, S1, S1 Air, S1 X and S1 X+. On August 15, 2023 they unveiled additional EV models and range of motorcycles such as Diamondhead, Adventure, Roadster and Cruiser.

By October 31, 2023 company had established strong presence across India with 870 experience centers and 431 service centers, supporting both online and offline sales through their omnichannel distribution network.

In FY 2023 about 75% of India’s two-wheeler (2W) exports from Ola were directed to markets in Africa, Latin America and Southeast Asia while domestic supply of electric two-wheelers (E2W) remained limited.

Their business strategy revolves around three scalable platforms: in-house R&D and technology platform for EV development, flexible production & supply chain and direct-to-consumer omnichannel sales platform. As of March 31, 2024 company employed 959 people including 907 permanent staff and 52 freelancers primarily focused on research, development and product innovation.

Ola Electric IPO Overview

OLA Electric Mobility Limited is set to launch its IPO which aims to raise ₹6,145.56 crores. This includes fresh issue of ₹5,500 crores and offer for sale worth ₹645.56 crores. The shares are expected to be listed on BSE and NSE on Friday, August 9, 2024. 

The IPO price range is between ₹72 to ₹76 per share, with a minimum application size of 195 shares. 

The company’s promoter Bhavish Aggarwal holds an 85.77% stake before the issue. 

The Ola Electric IPO’s registrar is Link Intime India Private Ltd.