Ola Electric IPO Details: Ola Electric IPO date is fixed, the IPO is to hit the market on August 2 and will close on August 6. Ola Electric IPO to raise around ₹6145.56 crores via IPO that comprises fresh issue of ₹5500 crores and offer for sale up to 84,941,997 equity shares of ₹10 each. The retail quota is 10%, QIB is 75%, and HNI is 15%.
Ola Electric has delivered four products and additionally announced six new products since their first product announcement in August 2021. They commenced delivery of our first EV model, the Ola S1 Pro, in December 2021. This was followed by the delivery of the Ola S1 in September 2022, the Ola S1 Air in August 2023, and the Ola S1 X+ in December 2023.
On August 15, 2023, they announced other new EV
scooter models, the Ola S1 X (2 kWh) and the Ola S1 X (3 kWh), in addition to the Ola S1 X+, as well as a line-up of motorcycles comprising four models, Diamondhead, Adventure, Roadster and Cruiser. They plan to commence delivery of the Ola S1 X (2 kWh) and the Ola S1 X (3 kWh) by the first half of Fiscal 2025 and the motorcycles in the first half of Fiscal 2026.
The company had the highest revenue of all Indian incorporated electric 2Ws (“E2Ws”) original equipment manufacturers (“OEMs”) from E2W sales in Fiscal 2023, according to the Redseer Report. Within nine months of delivering our first EV scooter in December 2021, they became the best-selling E2W brand in India in terms of monthly E2W registrations on the VAHAN Portal of Ministry of Road Transport and Highways (“VAHAN”) according to the Redseer Report. Research and development (“R&D”) and technology are at the core of our business model with a focus on in-house product innovation.
Objects of the Issue
- Capital expenditure to be incurred by our Subsidiary, OCT for expansion of the capacity of our cell manufacturing plant from 5 GWh to 6.4 GWh, classified as phase 2 under the expansion plan (the “Project”);
- Repayment or pre-payment, in full or part, of the indebtedness incurred by our Subsidiary, OET;
- Investment into research and product development;
- Expenditure to be incurred for organic growth initiatives; and
- General corporate purposes
Ola Electric IPO Review (Apply or Not)
Ola Electric IPO Date & Price Band Details
| IPO Open: | August 2, 2024 |
| IPO Close: | August 6, 2024 |
| IPO Size: | Approx ₹6145.56 Crores, 808,626,207 Equity Share |
| Fresh Issue: | Approx ₹5500 Crores, 723,684,210 Equity Share |
| Offer for Sale: | Approx ₹645.56 Crores, 84,941,997 Equity Share |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹72 to ₹76 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 10% |
| QIB Quota: | 75% |
| NII Quota: | 15% |
Ola Electric IPO Market Lot
The Ola Electric IPO minimum market lot is 195 shares with ₹14,820 application amount. The retail investors can apply up-to 13 lots with 2535 shares or ₹192,660 amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 195 | ₹14,820 |
| Retail Maximum | 13 | 2535 | ₹192,660 |
| S-HNI Minimum | 14 | 2,730 | ₹207,480 |
| B-HNI Minimum | 68 | 13,260 | ₹1,007,760 |
Ola Electric IPO (OLA Cabs) Allotment & Listing Dates
The Ola Electric IPO date is August 2 and the close date is August 6. The Ola Electric IPO allotment will be finalized on August 7 and the IPO listing on August 9.
| IPO Open Date: | August 2, 2024 |
| IPO Close Date: | August 6, 2024 |
| Basis of Allotment: | August 7, 2024 |
| Refunds: | August 8, 2024 |
| Credit to Demat Account: | August 8, 2024 |
| IPO Listing Date: | August 9, 2024 |
Ola Electric Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2022 | ₹456.26 | ₹1173.81 | ₹784.15 |
| 2023 | ₹2782.70 | ₹3883.38 | ₹1472.08 |
| 2024 | ₹5243.27 | ₹6277.41 | ₹1584.40 |
Frequently Asked Questions (FAQs)
What is the revenue for the year 2022?
The revenue for the year 2022 is ₹456.26 crores.
What is the expense for the year 2022?
The expense for the year 2022 is ₹1173.81 crores.
What is the Profit After Tax (PAT) for the year 2022?
The Profit After Tax (PAT) for the year 2022 is ₹784.15 crores.
What is the revenue for the year 2023?
The revenue for the year 2023 is ₹2782.70 crores.
What is the expense for the year 2023?
The expense for the year 2023 is ₹3883.38 crores.
What is the Profit After Tax (PAT) for the year 2023?
The Profit After Tax (PAT) for the year 2023 is ₹1472.08 crores.
What is the revenue for the year 2024?
The revenue for the year 2024 is ₹5243.27 crores.
What is the expense for the year 2024?
The expense for the year 2024 is ₹6277.41 crores.
What is the Profit After Tax (PAT) for the year 2024?
The Profit After Tax (PAT) for the year 2024 is ₹1584.40 crores.