Ola Electric Mobility is into Automobile-Electric Vehicles Electric Vehicles-Electric Vehicles and is looking raise funds through Fresh Issue and Offer For Sale
IPO Summary
Ola Electric Mobility IPO is a public offering of shares by Bhavish Aggarwal. The IPO will open on August 02 and will close on August 06. The price band is ₹72 to ₹76 per share and the lot size is 195 shares. The issue size is ₹6,145.56 crore. The shares are expected to be listed on BSE, NSE on August 09 (^). Some additional information that you may find useful are: Ola's business model is founded on three key scalable platforms: (1) R&D and technology platform with in-house design and development across EV technologies and components, (2) adaptable manufacturing and supply chain platform, and (3) D2C omnichannel distribution platform. On August 15, 2023, Copmany announced a line-up of E2W motorcycles, comprising the Cruiser, Adventure, the Roadster and flagship motorcycle, the Diamondhead. Company expect to begin delivery of the motorcycles in the firsthalf of Fiscal 2026.: (**) - based on higher price band (^) indicative datePromoters of the company are Bhavish Aggarwal Currently promoters hold 45.14% stake in the company. While post-equity promoters stake will be 36.78%
- Company aims to raise between Rs 6,112 to 6,146 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Capital expenditure to be incurred by its subsidiary, OCT for the Project - Rs. 1227.6 crs 2) Repayment of debt by subsidiary, OET - Rs. 800 crs 3) Investment into R&D - Rs. 1600 crs 4) Expenditure to be incurred for organic growth initiatives - Rs. 350 crs and 5) General corporate purposes
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 01-Aug-24.
- Price band for the IPO has been fixed at Rs 72 to 76 per share and bid lot are in multiple of 195 shares. The implied market cap post-issue at Rs 32,047 to 33,522 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on August 07 and share are expected to be listed on BSE, NSE on August 09.
- Company has direct peer competition in India'a EV segment in Automobile sector. In Listed space peers include TVS Motors, Eicher Motors, Bajaj Auto and Hero Motocorp.
- Kotak Mahindra Capital, BofASecurities, Axis Capital, SBI Capital Markets, Citigroup Global Markets, Goldman Sachs (India) Securities, ICICI Securities, BOB Capital Markets has been appointed as Merchant Banker to the issue. Link Intime India Private Limited has been appointed as official registrar of the issue.
- Company has not undertaken Pre-IPO placement.
Key Pointers of Ola Electric Mobility IPO:
| Ola Electric Mobility Limited IPO Snapshot | UdhyamPitch on X | |||
|---|---|---|---|
| Established | City | Sector | Sub-Sector |
| 2017 | Bengaluru | Automobile | Electric Vehicles |
| Issue | Issue Type | Tentative Listing Date | Listing at |
| IPO (Fresh+OFS) | Book Building | 09-Aug-24 | BSE, NSE |
| IPO Dates | Price Band (Rs/sh) | Face Value (Rs/sh) | Min Lot Qty |
| 02-Aug-24 to 06-Aug-24 | ₹ 72 to 76 per sh | ₹ 10 per sh | 195 sh and in multiples |
| Retail App (min) | Retail App (max) | Non-Retail (Rs2-10L App) | Non-Retail (>Rs10L min App) |
| 195 shares ₹ 14,820 |
2,535 shares up to ₹ 192,660 |
2,730 to 13,065 shares ₹ 207,480 to 992,940 |
13,260 shares and above ₹ 1,007,760 and above |
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
About Ola Electric Mobility Limited
Ola Electric Mobility established in 2017 is a pure EV player in India building vertically integrated technology and manufacturing capabilities for EVs and EV components. Company manufacture EV 2-wheelers and certain core EV components at the Ola Future factory. Company delivered seven products and additionally announced four new products. Company is building EV hub in Tamil Nadu, India, comprising Ola Future factory for EV manufacturing, upcoming Ola Gigafactory for cell manufacturing, and co-located suppliers. Company operate a direct-to-customer omnichannel distribution network across India, comprising 870 experience centres and 431 service centres and website. Ola Futurefactory is the largest integrated and automated E2W manufacturing plant in India with an installed capacity of one million units per year.
Ola Electric Mobility's Business Model
Company's business model is founded on three key scalable platforms: (1) R&D and technology platform with in-house design and development across EV technologies and components, (2) adaptable manufacturing and supply chain platform, and (3) D2C omnichannel distribution platform. Business model is vertically integrated across R&D and technology, manufacturing, supply chain, sales and service, and charging facilities.
- Ola's E2W (EV 2 Wheelers) market share in FY24/FY23/FY22 was at 34.8%/21%/5.7%. It sold / delivered 330,000/156,000/21,000 E2W during FY24/FY23/F22.
- Company has been approved for India’s PLI schemes – one relating to the manufacturing of advanced automotive technology products (the “Automobile PLI Scheme”), and another relating to advanced cell chemistry batteries (the “Cell PLI Scheme”). Benefits from PLI scheme would start from FY25e onwards.
- Commercial production from Ola Gigafactory cell production by May’24 and further phases is expected to be completed by Q2CY26e
- Invested around Rs1069 crores in R&D in during FY22-24.
- Company's Ola scooter is having current waiting delivery period of 2-3 weeks.
- Would think to supply products manufactured at Gigafactory to other companies in future.
- Currently not exporting scooters, but would think to exports in the future.
- Company has showcased four (4) models of 2-wheeler EV bilkes and would be launching in the next two years.
Ola Electric Mobility's key business highlights
Currently promoters are holding 45.14% stake in the company.
Ola's business model is founded on three key scalable platforms: (1) R&D and technology platform with in-house design and development across EV technologies and components, (2) adaptable manufacturing and supply chain platform, and (3) D2C omnichannel distribution platform. On August 15, 2023, Copmany announced a line-up of E2W motorcycles, comprising the Cruiser, Adventure, the Roadster and flagship motorcycle, the Diamondhead. Company expect to begin delivery of the motorcycles in the firsthalf of Fiscal 2026.
About Industry
According to the Redseer Report, E2Ws are at the forefront of the electrification of mobility in India due to their favourable total cost of ownership and the Indian government’s production-linked incentives and subsidies to promote domestic manufacturing and adoption of EVs. E2W penetration in India is expected to expand from approximately 4.5% of domestic 2W registrations in Fiscal 2023 to 41-56% of domestic 2W sales volume by Fiscal 2028, while the Indian E2W industry is expected to grow at a CAGR of 11% fromUS$35 billion (₹28.8 trillion) to US$45 billion(₹36.6 trillion)in Fiscal 2028. Further, markets like Africa, LATAM and SE Asia provideasignificantexport opportunity for Indian E2W OEMs.
| Ola Electric Mobility Limited IPO Dates | UdhyamPitch on X | |
|---|---|
| Anchor Open | 01-Aug-24 |
| IPO Open | 02-Aug-24 |
| IPO Close | 06-Aug-24 |
| Allotment | 07-Aug-24 |
| Credit of Shares | 08-Aug-24 |
| Refund | 08-Aug-24 |
| Listing | 09-Aug-24 |
| Anchor Investor Lockin (50% of Anchor book investment) | |
| Anchor Investor Lockin (Balance 50% of Anchor book investment) | |
Kindly note UPI Mandate deadline is 5:00 pm IST on closing date. To avoid last minute issue, request you to approve UPI mandate before 4:00 pm IST on last day. In case, UPI mandate has not been approved during the prescribed time period, applications are liable to get rejected.
There are highly chances of variation in dates. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Ola Electric Mobility Limited IPO - Details of Offer/Issue Breakup | UdhyamPitch on X | |||||
|---|---|---|---|---|---|
| Category | Quota (%) | No of Shares-Lower | No of Shares-Upper | Value (Rs Cr)-Lower | Value (Rs Cr)-Upper |
| QIB (Incl Anchor) | 75 | NA | 605,926,892 | NA | 4,605.04 |
| Non-Retail (NII) | 15 | NA | 121,185,378 | NA | 921.01 |
| Non-Retail (NII): >Rs10L | NA | 40,395,126 | NA | 307. | |
| Non-Retail (NII): Rs2L-Rs10L | NA | 80,790,252 | NA | 614.01 | |
| Retail | 10 | NA | 80,790,252 | NA | 614.01 |
| Employee | NA | 797,101 | 5.5 | 5.5 | |
| Shareholder | NA | . | . | ||
| NA=Not Available or Not Calculated | Upper= Upper Price Band | Lower=Lower Price Band | |||||
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Source: SEBI, BSE, NSE, DRHP, IPO Status, Industry Data |
|---|
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please review DRHP or Prospectus for more details about the company, fundamentals and other details. Please visit respective sources to verify and know more details about the IPO. SME IPOs can be more volatile due to smaller market capitalization and liquidity. Prices may fluctuate significantly in response to market conditions. We advise investors to take opinion from certified and SEBI registered experts before taking any investment decisions.
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