Subscribe for real-time financial insights on Trade Target’s WhatsApp Channels
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.
Ola Electric IPO GMP
The OLA Electric IPO is currently showing Grey Market Premium of ₹9 as of August 3, 2024, at 9:53 AM. With price band of ₹76 the estimated listing price is ₹85 indicating potential gain of 11.84% per share.
For daily updates and price trends, Trade Target provides the latest GMP information.
- Date: 07 – August – 2024
- OLA Electric Mobility GMP: ₹-3 (-3.95%)
- Date: 06 – August – 2024
- OLA Electric Mobility GMP: ₹-3 (-3.95%)
- Date: 05 – August – 2024
- OLA Electric Mobility GMP: ₹2.50 (3.29%)
- Date: 04 – August – 2024
- OLA Electric Mobility GMP: ₹9.60 (12.63%)
- Date: 03 – August – 2024
- OLA Electric Mobility GMP: ₹9.60 (12.63%)
- Date: 02 – August – 2024
- OLA Electric Mobility GMP: ₹9 (11.84%)
- Date: 01 – August – 2024
- OLA Electric Mobility GMP: ₹13 (17.11%)
- Date: 31 – July – 2024
- OLA Electric Mobility GMP: ₹16.50 (21.71%)
- Date: 30 – July – 2024
- OLA Electric Mobility GMP: ₹16.50 (21.71%)
- Date: 29 – July – 2024
- OLA Electric Mobility GMP: ₹13 (17.11%)
How can one apply for Ola Electric IPO?
Investors in OLA Electric IPO can bid in lots of 195 shares. Retail investors can investa minimum of ₹14,820 for 195 shares and up to ₹192,660 for 2,535 shares. Small HNI investors can invest between ₹207,480 and ₹992,940 while large HNI investors must invest at least ₹1,007,760:
| Application | Lots | Shares | Amount |
|---|---|---|---|
|
Retail (Min) |
1 |
195 |
₹14,820 |
|
Retail (Max) |
13 |
2,535
|
₹192,660 |
|
S-HNI (Min) |
14 |
2,730 |
₹207,480 |
|
S-HNI (Max) |
67 |
13,065 |
₹992,940 |
|
B-HNI (Min)
|
68 |
13,260 |
₹1,007,760 |
Ola Electric Industries IPO Financial
This overview provides snapshot of the company’s financial health, showing its assets, revenue, profit and borrowing:
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
|
Assets in (₹ Crores) |
7,735.41
|
5,573.17
|
5,395.86
|
|
Revenue (₹ Crores) |
5,243.27
|
2,782.70
|
456.26 |
|
PAT (₹ crores)
|
-1,584.40
|
-1,472.08
|
-784.15
|
|
Total Borrowing (₹ crores)
|
2,389.21
|
1,645.75
|
750.41
|
Ola Electric Vs Peers
| Company | EPS Diluted | P/E(x) |
|---|---|---|
|
Ola Electric
|
-4.35
|
- |
|
TVS Motor Company Ltd.
|
35.5 |
69.69
|
|
Eicher Motors Ltd.
|
146.18
|
36.78
|
|
Bajaj Auto Ltd.
|
272.7
|
29.95
|
|
Hero Motocorp Ltd.
|
187.36
|
27.16
|
Ola Electric IPO Quota allocation
- Anchor Investors: 45% of the net issue
- QIB Investors: 30% of the net issue
- Retail Investors: 10% of the net issue
- NII (HNI) Investors: 15% of the net issue
Expected Listing Date for Ola Electric IPO
- Subscription Period: 2 August to 6 August
- Basis of Allotment Finalization: 7 August 2024
- Initiation of Refunds: 8 August 2024
- Demat Credits: 8 August 2024
- Listing Date: 9 August 2024
- Listing on: NSE, BSE
