Last updated on August 9, 2024
OLA Electric IPO Description – OLA Electric stands as a dedicated EV pioneer in India, forging ahead with vertically integrated technology and manufacturing prowess for electric vehicles and their essential components, including cells. At the cutting-edge Ola Futurefactory, they craft EVs and key parts such as battery packs, motors, and vehicle frames.
In Fiscal 2023, OLA Electric achieved the highest revenue among all Indian electric two-wheeler (E2Ws) original equipment manufacturers (OEMs) from E2W sales. Remarkably, within nine months of launching its first EV scooter in December 2021, OLA Electric became the top-selling E2W brand in India, as reflected in the monthly E2W registrations on the VAHAN Portal of the Ministry of Road Transport and Highways.
As of 31 March 2024, OLA Electric runs a comprehensive direct-to-customer (D2C) omnichannel distribution network. This includes 870 experience centers and 431 service centers (with 429 service centers located within the experience centers) spread across India, complemented by the Ola Electric website.
Promoters of OLA Electric – Bhavish Aggarwal
Table of Contents
OLA Electric IPO Details
| OLA Electric IPO Dates | 2 – 6 August 2024 |
| OLA Electric Issue Price | INR 72 – 76 per share (Employee discount – INR 7 per share) |
| Fresh issue | INR 5,500 crore |
| Offer For Sale | 8,49,41,997 shares (INR 611.58 – 645.56 crore) |
| Total IPO size | INR 6,111.58 – 6,145.56 crore |
| Minimum bid (lot size) | 195 shares (INR 14,820) |
| Face Value | INR 10 per share |
| Retail Allocation | 10% |
| Listing On | NSE, BSE |
OLA Electric Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 373.42 | 2,630.93 | 5,009.83 |
| Expenses | 1,173.81 | 3,883.38 | 6,277.41 |
| Net income | (784.15) | (1,472.08) | (1,584.4) |
| Margin (%) | (209.99) | (55.95) | (31.63) |
OLA Electric Offer News
OLA Electric Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 (Pre-Issue) | FY 2024 (Post-Issue)* | |
| EPS | (2.13) | (3.99) | (4.30) | (3.59) |
| PE Ratio | – | – | NA | NA |
| FY 2022 | FY 2023 | FY 2024 | |
| RONW (%) | (21.42) | (62.47) | (78.46) |
| NAV | 9.93 | 6.39 | 5.48 |
| EBITDA (%) | (157.27) | (43.02) | (19.84) |
| Debt/Equity | (0.10) | 0.72 | 2.01 |
OLA Electric IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 7 August 2024 | – | – | – |
| 6 August 2024 | 5 | – | 400 |
| 5 August 2024 | 9 | – | 900 |
| 3 August 2024 | 11 | – | 1,000 |
| 2 August 2024 | 15 | – | 800 |
| 1 August 2024 | 16 | – | 600 |
| 31 July 2024 | 15 | – | 700 |
| 30 July 2024 | 15 | – | 700 |
| 29 July 2024 | 65 | – | 1,200 |
| 27 July 2024 | 22 | – | 1,200 |
| 26 July 2024 | 25 | – | 1,200 |
| 25 July 2024 | 25 | – | 1,200 |
OLA Electric IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Capital expenditure to be incurred by its subsidiary, OCT for the Project – INR 1,227.64 crore
- Repayment or pre-payment, in full or part, of the indebtedness incurred by its subsidiary, OET – INR 800 crore
- Investment into research and product development – INR 1,600 crore
- Expenditure to be incurred for organic growth initiatives – INR 350 crore
- General corporate purposes
OLA Electric – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| OLA Electric | NA | (4.30) | (78.46) | 5.48 | 5,009.83 |
| TVS Motors | 68.99 | 35.50 | 23.68 | 158.10 | 39,144.74 |
| Eicher Motors | 33.58 | 145.92 | 22.17 | 659.06 | 16,535.78 |
| Bajaj Auto | 34.02 | 272.70 | 26.61 | 1,037.41 | 44,870.43 |
| Hero MotoCorp | 28.89 | 187.04 | 20.98 | 892.08 | 37,788.62 |
OLA Electric IPO Allotment Status
OLA Electric IPO allotment status is now available on Link Intime’s website. Click on Link Intime IPO weblink to get allotment status.
OLA Electric IPO Dates & Listing Performance
| IPO Opening Date | 2 August 2024 |
| IPO Closing Date | 6 August 2024 |
| Finalization of Basis of Allotment | 7 August 2024 |
| Initiation of refunds | 8 August 2024 |
| Transfer of shares to demat accounts | 8 August 2024 |
| OLA Electric IPO Listing Date | 9 August 2024 |
| Opening Price on NSE | INR 76 per share (no change) |
| Closing Price on NSE | INR 91.20 per share (up 20%) |
OLA Electric IPO Reviews – Subscribe or Avoid?
Aditya Birla Capital – Avoid
Anand Rathi – Subscribe
Antique Stock Broking –
Axis Capital – Not rated
Ashika Research – Not rated
BP Wealth – Subscribe
Capital Market – Neutral
Canara Bank Securities – Subscribe
Choice Broking –
Dalal & Broacha –
Elite Wealth – Subscribe for listing gains
HDFC Securities – Not rated
Geojit –
GEPL Capital – Avoid
Hem Securities – Subscribe
InCred Equities – Not rated
Indsec –
Jainam Broking – Subscribe for long term
DR Choksey –
LKP Research –
Marwadi Financial – Subscribe
Systematix Shares –
Mehta Equities –
Nirmal Bang – Subscribe for long term
Reliance Securities –
Sushil Finance –
Samco Securities – Subscribe for long term
SBI Securities – Not rated
SMC Global – 1.5/5
SMIFS –
Swastika Investmart – Neutral
Ventura Securities – Subscribe
OLA Electric Offer Lead Manager
KOTAK MAHINDRA CAPITAL COMPANY LIMITED
1st Floor, 27 BKC, Plot No. C – 27 “G” Block, Bandra Kurla
Complex Bandra (East) Mumbai 400 051 Maharashtra, India
Phone: +91 22 4336 0000
Email: [email protected]
Website: www.investmentbank.kotak.com
OLA Electric Offer Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park L.B.S. Marg,
Vikhroli West, Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]
Website: www.linkintime.co.in
OLA Electric Contact Details
OLA ELECTRIC MOBILITY LIMITED
Hosur Road, Municipal Ward No.67,
Wing C Star Tech, Municipal No. 140,
Industrial Layout Koramangala, Bengaluru – 560 095
Phone: +91 80 3544 0050
Email: [email protected]
Website: www.olaelectric.com
OLA Electric IPO FAQs
How many shares in OLA Electric IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 75%, NII – 15%, and Retail – 10%.
How to apply for an OLA Electric Public Offer?
The best way to apply for OLA Electric’s public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is OLA Electric IPO GMP today?
OLA Electric IPO GMP today is INR NA per share.
What is OLA Electric kostak rate today?
OLA Electric kostak rate today is INR NA per application.
What is OLA Electric Subject to Sauda rate today?
OLA Electric Subject to Sauda rate today is INR NA per application.
