OLA Electric presents a significant investment opportunity with its Initial Public Offering (IPO). Scheduled to open on August 2, 2024, this IPO offers a chance to participate in OLA Electric's growth journey. This blog provides an overview of the IPO, including key dates, share details, and the company's objectives for raising funds.
About OLA Electric
Founded in 2017, OLA Electric is a manufacturer of electric vehicles (EVs) based in India. The company creates not only electric vehicles but also essential components such as battery packs, motors, and vehicle frames at its state-of-the-art Ola Futurefactory.
Since August 2021, OLA Electric has introduced seven products to the market and announced an additional four, starting with their inaugural model, the Ola S1 Pro, which was delivered in December 2021. As of October 31, 2023, the company had built a strong distribution network throughout India that comprises 870 experience centres (showrooms) and 431 service centres.
In FY 2023, OLA Electric significantly contributed to India's 2W exports, with about 75% directed to LATAM, Africa and Southeast Asia. As of March 31, 2024, the company employed 959 individuals, focusing on research, product development and vehicle design.
OLA Electric IPO Details
Here are the key details of the IPO:
IPO Schedule (Expected):
|
Event |
Date |
|
IPO Open Date |
August 2, 2024 |
|
IPO Close Date |
August 6, 2024 |
|
Basis of Allotment |
August 7, 2024 |
|
Initiation of Refunds |
August 8, 2024 |
|
Credit of Shares to Demat |
August 8, 2024 |
|
Listing Date |
August 9, 2024 |
|
Cut-off Time for UPI Mandate Confirmation |
5 PM on August 6, 2024 |
Share Details:
|
Parameter |
Details |
|
Face Value |
₹10 per share |
|
Price Band |
₹72 to ₹76 per share |
|
Lot Size |
195 shares |
|
Total Issue Size |
808,626,207 shares (₹6,145.56 Cr) |
|
Fresh Issue |
723,684,210 shares (₹5,500.00 Cr) |
|
Offer for Sale |
84,941,997 shares (₹645.56 Cr) |
|
Employee Discount |
₹7 per share |
|
Issue Type |
Book Built Issue IPO |
|
Listing At |
NSE, BSE |
|
Share Holding Pre-Issue |
3,687,072,258 shares |
|
Share Holding Post-Issue |
4,410,756,468 shares |
Reservation for Investors:
|
Investor Category |
Shares Offered |
|
QIB |
Not less than 75% of the Net Issue |
|
Retail |
Not more than 10% of the Net Issue |
|
NII (HNI) |
Not more than 15% of the Net Issue |
Lot Size:
|
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 |
Objectives of the IPO
The OLA Electric IPO aims to utilise the net proceeds for several key objectives:
- Capacity Expansion: Funding for increasing the capacity of its subsidiary OCT's cell manufacturing plant from 5 GWh to 6.4 GWh as part of Phase 2 of its expansion plan.
- Debt Repayment: Partial or full repayment of the debt incurred by its subsidiary, OET.
- Research and Development: Investment in research and product development to enhance technological capabilities and product offerings.
- Organic Growth: Support for initiatives aimed at expanding the company's growth organically.
- Corporate Purposes: Allocation of funds for general corporate needs.
Apply for OLA Electric IPO
As OLA Electric seeks to expand its business operations, this IPO could be a strategic addition to your investment portfolio. To participate in the OLA Electric IPO, consider using HDFC Sky. Our platform offers a seamless and efficient way to apply for IPOs with its One-Click IPO feature, ensuring you stay updated with the stock market today.
Financial Performance of OLA Electric
For the financial year ending March 31, 2024, Ola Electric's revenue surged by 88.42%, reaching ₹5,243.27 crore compared to ₹2,782.70 crore in the previous year. Here is an overview of the financial metric of OLA Electric:
|
Financial Metrics |
31 Mar 2024 |
31 Mar 2023 |
31 Mar 2022 |
31 Mar 2021 |
|
Revenue |
5,243.27 |
2,782.70 |
456.26 |
106.08 |
|
Profit After Tax |
-1,584.40 |
-1,472.08 |
-784.15 |
-199.23 |
|
Total Assets |
7,735.41 |
5,573.17 |
5,395.86 |
2,112.64 |
|
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 |
Note: The amount mentioned in the table is in ₹ Crore.
How to Invest in OLA Electric IPO?
Investing in IPOs is simple and secure with our One-Click IPO feature:
- Open an Demat Account
- Browse upcoming IPOs on our platform such the OLA Electric IPO.
- Invest with One-Click by selecting the OLA Electric IPO and using your UPI ID to invest.