Ola Electric Mobility Limited IPO (OLA Electric) Detail

OLA Electric is a book built issue. The issue comprises of fresh issue of Rs 5,500.00 crore and offer for sale of 9.52 crore shares.

OLA Electric dates are yet to be announced.

OLA Electric price bands are yet to be announced.

Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, Axis Capital Limited and SBI Capital Markets Limited are the book running lead managers of the OLA Electric, while Link Intime India Private Ltd is the registrar for the issue.

Refer to OLA Electric DRHP for detailed information.

OLA Electric Details

IPO Date	to
Listing Date	[.]
Face Value	₹10 per share
Price	[.] to [.] per share
Lot Size
Total Issue Size	[.] shares (aggregating up to ₹[.] Cr)
Fresh Issue	[.] shares (aggregating up to ₹5,500.00 Cr)
Offer for Sale	95,191,195 shares of ₹10 (aggregating up to ₹[.] Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE

OLA Electric Reservation

Investor Category	Shares Offered
QIB Shares Offered	Not less than 75% of the Net Issue
Retail Shares Offered	Not more than 10% of the Net Issue
NII (HNI) Shares Offered	Not more than 15% of the Net Issue

OLA Electric Promoter Holding

The promoter of the Company is Bhavish Aggarwal.

Share Holding Pre Issue	85.77%
Share Holding Post Issue

About Ola Electric Mobility Limited

Incorporated in 2017, Ola Electric Mobility Limited is an EV company mainly manufacturing EVs and specific core EV components like battery packs, motors, and vehicle frames at the Ola Futurefactory.

Since August 2021, the company has launched four new products and announced six. The Ola S1 Pro, the first EV model, was delivered in December 2021, followed by the Ola S1, Ola S1 Air, and Ola S1 X+ in subsequent years. On August 15, 2023, they announced new EV scooter models and a lineup of motorcycles comprising Diamondhead, Adventure, Roadster, and Cruiser.

As of October 31, 2023, the company operates its own direct-to-customer ("D2C") omnichannel distribution network across India, comprising 935 experience centres and 414 service centres (of which 410 service centres are located within experience centres), in addition to our Ola Electric website.

In Fiscal 2023, approximately 75% of 2W exports from India were to Africa, LATAM, and Southeast Asia, which are categorized by limited domestic E2W supply.

In Fiscal 2023, around 75% of 2W exports from India were destined for Africa, LATAM, and Southeast Asia, with a limited domestic supply of E2W.

The business model is founded on three vital scalable platforms:

Its R&D and technology platform with in-house design and development across EV technologies and components,
The adaptable manufacturing and supply chain platform and
The D2C omnichannel distribution platform

As of October 31, 2023, the company has 974 on- and off-roll employees focused on research and development. They are dedicated to product development, vehicle and software engineering, vehicle design, and cell development.

Ola Electric Mobility Limited Financial Information (Restated)

Ola Electric Mobility Limited's revenue increased by 509.89% and profit after tax (PAT) dropped by -87.73% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	30 Jun 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	5,711.12	5,573.17	5,395.86	2,112.64
Revenue	1,278.68	2,782.70	456.26	106.08
Profit After Tax	-267.16	-1,472.08	-784.15	-199.23
Net Worth	2,111.51	2,356.44	3,661.45	1,970.62
Reserves and Surplus	-1,625.90	-1,380.03	-68.83	1,999.30
Total Borrowing	1,616.57	1,645.75	750.41	38.87
Amount in ₹ Crore

Objects of the Issue (OLA Electric Objectives)

The company proposes to utilise the Net Proceeds towards funding the following objects:

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");
Repayment or pre-payment, in full or part, of the indebtedness incurred by its Subsidiary, OET;
Investment into research and product development;
Expenditure to be incurred for organic growth initiatives; and
General corporate purposes

OLA Electric Prospectus

› OLA Electric DRHP

OLA Electric Rating

2.3

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Ola Electric Mobility Limited Contact Details

Ola Electric Mobility Limited
Regent Insignia, #414, 3rd Floor, 4th Block
17thMain100 Feet Road, Koramangala
Bengaluru 560034
Phone: +91 80 3544 0050
Email: ipo@olaelectric.com
Website: https://www.olaelectric.com/

OLA Electric Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: olaelectric.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

OLA Electric - Buy or Not

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OLA Electric FAQs

OLA Electric is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at [.] to [.] per share. The minimum order quantity is .

The OLA Electric open and close dates are not available as of now.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in OLA Electric using UPI as a payment gateway. Zerodha customers can apply in OLA Electric by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in OLA Electric through Zerodha

Visit the Zerodha website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the 'OLA Electric' row and click the 'Bid' button.
Enter your UPI ID, Quantity, and Price.
‘Submit’ IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The OLA Electric dates are not announced. Please check back again after some time.

OLA Electric lot size and the minimum order quantity is not available at this time. Please check again later.

You can apply in OLA Electric online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for OLA Electric will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the OLA Electric allotment status.

The OLA Electric listing date is not yet announced. The tentative date of OLA Electric listing is [.].