IPO

Ola Electric Mobility Limited IPO

Mainboard

2/3 Wheelers

Listed On: Aug 9, 2024 at ₹ 76.0(NSE)

₹ 14820 /195 Shares

Check Allotment

02 Aug, 2024

Open Date

06 Aug, 2024

Close Date

07 Aug, 2024

Allotment Date

09 Aug, 2024

Listing Date
Price Summary

Last Closing

34.10 (-55.13%)

52 Week High

100.40

52 Week Low

33.20

Last Update

10-Dec-2025 3:30 PM
Ola Electric Mobility IPO Issue Details
  • Issue Price ₹72-76 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 80,86,26,207 shares(aggregating up to ₹6145.56 crore)
  • Fresh Share 72,36,84,210 shares(aggregating up to ₹5500 crore)
  • Offer For Sale 8,49,41,997 shares(aggregating up to ₹645.56 crore)
  • Listing at BSE, NSE
  • List Price 76.0(NSE)
  • Listing Date 2024-08-09
  • Lead Manager Kotak Mahindra Capital Company Limited
    Bofa Securities India Limited
    Axis Capital Limited
    SBI Capital Markets Limited
  • Registrar Link Intime India Private Ltd
Market Lot Size

Investors can bid for a minimum of 195 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 195 ₹14,820
Retail(max) 13 2535 ₹1,92,660
SHNI(min) 14 2730 ₹2,07,480
SHNI(max) 67 13065 ₹9,92,940
BHNI(min) 68 13260 ₹10,07,760
Ola Electric Mobility IPO Reservation

Ola Electric Mobility IPO offers total 808,699,625 shares. Out of which 242,370,750 (29.97%) allocated to QIB, 121,185,387 (14.99%) allocated to NII,80,790,252 (9.99%) allocated to RII, 797,101 (0.1%) allocated to employees and 363,556,135 (44.96%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered 363,556,135 (44.96%)
QIB Shares Offered 242,370,750 (29.97%)
NII (HNI) Shares Offered 121,185,387 (14.99%)
bNII > ₹10L 80,790,252 (9.99%)
sNII < ₹10L 40,395,135 (5%)
Retail Shares Offered 80,790,252 (9.99%)
Employee Shares Offered 797,101 (0.1%)
Total Shares Offered 808,699,625 (100%)
Ola Electric Mobility IPO Documents
DRHP
RHP
ANCHOR
Ola Electric Mobility IPO Details


Ola Electric Mobility IPO is a book-built issue of ₹6145.56 crores, The total issue size is ₹6145.56 crores. The IPO of Ola Electric Mobility is priced at ₹72-76 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Aug 2, 2024 and ends on Aug 6, 2024. The allotment for Ola Electric Mobility IPO will be finalized on Aug 7, 2024. Ola Electric Mobility IPO will be listed on BSE, NSE, with a tentative listing date fixed as Aug 9, 2024. The company shall list its equity shares on the BSE, NSE. Link Intime India Private Ltd is the registrar of the issue.

Retail investors can bid for a minimum of 195 shares, extendable to 14,820. S-HNIs will be able to bid for 2730 shares at ₹2,07,480, while B-HNIs can also apply for a bid of 13260 shares at ₹10,07,760. The book-running lead manager for the IPO is/are Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, Axis Capital Limited, SBI Capital Markets Limited.

The total issue ₹6145.56 crore, comprising a fresh issue of 72,36,84,210 shares ₹5500 crore and having Offer for Sale (OFS) of 8,49,41,997 shares to mop up ₹645.56 crore.

The Ola Electric Mobility IPO sets its price band at 72-76 for each share. A single application for Ola Electric Mobility Limited IPO must contain at least 195 shares. Sentiment investors need to invest a minimum of 195 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,820 In order to participate in the sNII, investors must purchase at least 14 lots of 2730 shares for ₹2,07,480, while the bNII requires 68 lots of 13260 shares for an investment of ₹10,07,760.

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Ola Electric Mobility IPO Subscription Analysis And Details
Retail
3.85x
QIB
5.31x
NII
2.39x
bNII
2.62x
sNII
1.93x
Total
4.26x
As on QIB NII
bNII   sNII 		Retail Total
Shares Offered / Reserved 242,370,750 121,185,387
80,790,252    40,395,135 		80,790,252 445,143,490
Day 1 02-08-24 05:00 PM
0.00 x 0.20
0.13 x   0.35 x 		1.57 x 0.35 x
Day 2 05-08-24 05:00 PM
0.40 x 1.11
1.12 x   1.09 x 		2.87 x 1.06 x
Day 3 06-08-24 05:00 PM
5.31 x 2.39
2.62 x   1.93 x 		3.85 x 4.26 x
Total No of Applications
13,47,822
Ola Electric Mobility Valuations
EPS Pre IPO -₹4.3/-
EPS Post IPO -₹3.59/-
P/E Pre IPO -17.69
P/E Post IPO -21.16
RoNW -78.46%
Price to Book Value 13.72
Ola Electric Mobility Company Financials
In Crs.
In Cr.
31-Mar-24 31-Mar-23 31-Mar-22
Assets 7,735.41 5,573.17 5,395.86
Revenue 5,243.27 2,782.70 456.26
Profit After Tax -1,584.40 -1,472.08 -784.15
Net Worth 2,019.34 2,356.44 3,661.45
Reserves & Surplus -2,882.54 -1,380.03 -68.83
Total Borrowing 2,389.21 1,645.75 750.41
About Ola Electric Mobility Company

Ola Electric Mobility Limited is an electric vehicle company that was established in 2017. Here, the company mainly manufactures electric vehicles and certain core components for electric vehicles, like battery packs, motors, and vehicle frames, at the Ola Futurefactory.Since August 2021, it has rolled out seven new models and unveiled four. It shipped the Ola S1 Pro, which became the company's first electric model, in December 2021, then delivered the Ola S1 in the subsequent year, then released the Ola S1 Air, the Ola S1 X and, lastly the Ola S1 X+, on August 15, 2023 it unveiled more models of electric as well as various motorbikes from Diamondhead to Roadster as well as the Cruiser.

As of October 31, 2023, the company manages its 'omnichannel distribution network across India, comprising 870 experience centers and 431 service centers (which includes 429 service centers within experience centers) along with Ola Electric's website.Of the total two-wheeler exports from India in FY 2023, almost 75 percent were headed towards Africa, LATAM, and South East Asia, while home supply of E2W was abysmally low.

The business model is based on three scalable platforms: the R&D and technology platform, which has in-house design and development of EV technologies and components; the adaptable production and supply chain platform; and the D2C omnichannel sales platform.The company as of March 31, 2024 has a total number of 959 employees that includes 907 permanent and 52 freelancers with special focus in their work, being devoted to development through research, especially on products, vehicle, software, designing vehicle, and development of the cells.

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Ola Electric Mobility - Promoter(s)

Bhavish Aggarwal

Pre Issue Share Holding : 85.77%

Post Issue Share Holding : N/A%

Ola Electric Mobility IPO - Issue Objectives
1

Capital expenditure to be incurred by its Subsidiary, OCT for expansion of the capacity of its cell manufacturing plant from 5GWh to 6.4 GWh, classified as phase 2 under the expansion plan(the Project)

2

Repayment or pre-payment, in full or part, of the indebtedness incurred by its Subsidiary, OET

3

Investment into research and product development

4

Expenditure to be incurred for organic growth initiatives

5

General corporate purposes

Ola Electric Mobility IPO - Anchor Investors

Ola Electric IPO: E2W maker raises Rs 2,763 cr from anchor investors.

About Rs 1,117 crore was allotted to domestic mutual funds (MF) that included SBI MF, HDFC MF, Nippon MF and UTI MF.

SBI Mutual Fund (MF), HDFC MF, Nippon India MF, Sundaram MF, Bandhan MF, Bharti Axa Life Insurance Company, Kotak Mahindra Life Insurance Company, Government Pension Fund Global, Nomura India Investment Fund, Goldman Sachs (Singapore) Pte Ltd, and Fidelity were allotted shares in the anchor round.

Ola Electric Mobility IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
Ola Electric Mobility Limited -4.35 -4.35 5.54 N/A -78.46 N/A Consolidated
Tvs Motor Company Ltd. 35.5 35.5 158.1 69.69 23.68 15.49 Consolidated
Eicher Motors Ltd. 146.18 145.92 659.06 36.78 22.17 7.44 Consolidated
Bajaj Auto Ltd. 272.7 272.7 1037.41 29.95 26.61 9.38 Consolidated
Hero Motocorp Ltd. 187.36 187.04 892.08 27.16 20.98 6.06 Consolidated

Notes:

  1. The Basic/Diluted EPS refers to the Basic/Diluted EPS sourced from the financial statements of the respective peer group companies for the year ended March 31, 2024.
  2. The RoNW is computed as net profit after tax attributable to shareholders divided by total equity attributable to the equity shareholders as on March 31, 2024. Return on Net worth (%) is calculated as loss for the year divided by Net Worth at the end of the respective year.
  3. NAV per equity share refers to total equity attributable to the equity shareholders as at the end of the financial year divided by the number of Equity Shares outstanding at the end of the year.
  4. The P/E ratio for the peer group has been computed based on the closing market price of equity shares on NSE as on July 25, 2024, divided by the Diluted EPS for financial year ended March 31, 2024.
Strength
Ola Electric leads E2W market with 31% registrations in 2023.
Global R&D drives innovation in Ola Electric's EV technology.
Ola Futurefactory enables scalable, cost-efficient E2W production in India.
PLI and FAME schemes reduce costs and boost competitiveness.
Weakness
Losses and negative cash flows pose financial risks to Ola Electric.
Reduced subsidies may impact Ola Electric's pricing and demand.
Intense competition challenges Ola Electric in the automotive market.
Factory delays disrupt production capacity and impact timelines.
Contact Details

Ola Electric Mobility

Regent Insignia, #414, 3rd Floor, 4th Block, 17thMain100 Feet Road, Koramangala, Bengaluru 560034

+91 80 3544 0050

ipo@olaelectric.com

https://www.olaelectric.com/

Registrar Contact Details

Link Intime India Private Ltd

+91-22-4918 6270

olaelectric.ipo@linkintime.co.in

https://linkintime.co.in/initial_offer/public-issues.html