Ola Electric IPO: Important Dates and Information

The much-anticipated OLA IPO news (Initial Public Offering) has been a subject of intense speculation and excitement in the Indian investment market. As one of India’s leading mobility platforms, OLA has witnessed significant growth and expansion, making its entry into the public market a highly anticipated event.

The OLA electric IPO date is scheduled to open for subscription on August 2, 2024, and will close on August 6, 2024. The allotment of OLS IPO shares is expected to be finalised on August 7, 2024, with the listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) taking place on August 9, 2024. This OLA electric IPO date is crucial for investors looking to participate in the OLA IPO, as it outlines when they can apply and when they can expect to see their shares listed.

Ola Electric IPO Date

Ola IPO is set to raise Rs 6,145.56 crore through its Initial Public Offering (IPO). The issue comprises a fresh issue of shares worth Rs 5,500 crore and an offer for sale (OFS) of existing shares valued at Rs 645.56 crore.

Key IPO Details:

• Issue Open Date: August 2, 2024
• Issue Close Date: August 6, 2024
• Allotment Date: August 7, 2024 (expected)
• Listing Date: August 9, 2024 (tentative)
• OLA IPO Price Band: Rs 72 to Rs 76 per share
• Minimum OLA IPO Lot Size: 195 shares
• Minimum Investment (Retail): Rs 14,820
• Minimum Investment (Non-Institutional Investors): Rs 207,480 (14 lots)
• Minimum Investment (Qualified Institutional Buyers): Rs 1,007,760 (68 lots)

The proceeds from the fresh issue will be utilised for various purposes, including debt repayment, expansion of the gigafactory, research and development, and general corporate purposes.
Note: Investors are advised to conduct thorough research or consult with financial advisors before making investment decisions.

OLA IPO Price

Ola IPO price is set to launch its Initial Public Offering (IPO) to raise funds for expansion and growth.Here’s a summary of the key details:

Particulars	Details
OLA IPO Date	August 2, 2024 to August 6, 2024
Listing Date	[To be announced]
Face Value	₹10 per share
OLA IPO Price Band	₹72 to ₹76 per share
OLA IPO Lot Size	195 Shares
Total Issue Size	808,626,207 shares (aggregating up to ₹6,145.56 Cr)
Fresh Issue	723,684,210 shares (aggregating up to ₹5,500.00 Cr)
Offer for Sale	84,941,997 shares of ₹10 (aggregating up to ₹645.56 Cr)
Employee Discount	Rs 7 per share
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Shareholding pre issue	3,687,072,258
Shareholding post issue	4,410,756,468

OLA Electric IPO Reservation for Investor Categories

The OLA IPO has allocated shares to different investor categories as follows:

• Qualified Institutional Buyers (QIBs): At least 75% of the total issue size is reserved for QIBs, which include mutual funds, insurance companies, pension funds, and other institutional investors.
• Non-Institutional Investors (NIIs): Up to 15% of the net issue is allocated to NIIs, which typically includes high net worth individuals.
• Retail Investors: Not more than 10% of the net issue is reserved for retail investors, which are individual investors who apply for shares up to a specified limit.

Investor Category	Shares Offered**
QIB (Qualified Institutional Buyers)	Not less than 75% of the Net Issue
Retail Investors	Not more than 10% of the Net Issue
NII (High Networth Individuals)	Not more than 15% of the Net Issue

The allocation percentages ensure a diversified investor base for the OLA Electric IPO. This process promotes stability and liquidity in the stock after listing.

OLA Electric IPO Date Details

The following is a tentative schedule for the OLA IPO Date 2024 are:

Event	Date
IPO Open OLA IPO Date	Friday, August 2, 2024
IPO Close OLA IPO Date	Tuesday, August 6, 2024
Basis of Allotment	Wednesday, August 7, 2024
Initiation of Refunds	Thursday, August 8, 2024
Credit of Shares to Demat	Thursday, August 8, 2024
Listing Date	Friday, August 9, 2024
Cut-off time for UPI mandate confirmation	5 PM on August 6, 2024

OLA IPO Lot Size

The OLA IPO has the following lot size specifications:

Minimum Investment: Investors can bid for a minimum of 195 shares.

Retail Investors:

• Minimum investment: 1 lot (195 shares) amounting to Rs. 14,820.
• Maximum investment: 13 lots (2,535 shares) amounting to Rs. 192,660.

Non-Institutional Investors (HNI):

• Minimum investment: 14 lots (2,730 shares) amounting to Rs. 207,480.
• Maximum investment: 67 lots (13,065 shares) amounting to Rs. 992,940.

Qualified Institutional Buyers (QIBs): Minimum investment is not applicable as there is no upper limit for their investment.

Investor Category	Lots	Shares	Amount (₹)
Retail (Min)	1	195	14,820
Retail (Max)	13	2,535	192,660
S-HNI (Min)	14	2,730	207,480
S-HNI (Max)	67	13,065	992,940
B-HNI (Min)	68	13,260	1,007,760

OLA Electric IPO Promoter Holding

Bhavish Aggarwal is the primary promoter of Ola Electric Mobility Limited.

Pre-IPO Shareholding: The promoter group held approximately 85.77% of the company’s equity shares before the IPO.

Post-IPO Shareholding: The exact post-IPO shareholding of the promoter will be determined after the completion of the offer for sale (OFS) component of the IPO. It is expected to be lower than the pre-IPO holding due to the sale of shares by existing shareholders.

Description	Percentage
Shareholding Pre Issue	85.77%
Shareholding Post Issue	—

Ola Electric Mobility Limited

Company Overview

Ola Electric Mobility Limited is an Indian electric vehicle (EV) manufacturing company established in 2017. The company specialises in producing electric vehicles and key components such as battery packs, motors, and vehicle frames at its Ola Future Factory.

Since its inception in 2021, Ola Electric has introduced seven EV models and announced four more. The company’s flagship product, the Ola S1 Pro electric scooter, was launched in December 2021, followed by the Ola S1, Ola S1 Air,Ola S1 X, and Ola S1 X+ in subsequent years. In a significant expansion, Ola Electric unveiled new EV models and a range of motorcycles including Diamondhead, Adventure, Roadster, and Cruiser on August 15, 2023.

Distribution and Market Presence

To reach its customers, Ola Electric operates an extensive omnichannel distribution network across India, comprising over 870 experience centres and 430 service centres. The company also leverages its online platform for sales. While India’s domestic electric two-wheeler (E2W) market is still developing, Ola Electric has successfully exported around 75% of its two-wheeler production to Africa, Latin America, and Southeast Asia in FY 2023.

Business Model Ola Electric’s business model hinges on three core pillars:

• R&D and Technology Platform: This platform is dedicated to in-house design and development of EV technologies and components.
• Adaptable Production and Supply Chain Platform: This platform oversees the manufacturing and supply chain operations.
• D2C Omni Channel Sales Platform: This platform focuses on direct-to-consumer sales and distribution.

Human Capital: As of March 31, 2024, the company employed a workforce of 959 individuals, including 907 permanent employees and 52 freelancers. These employees are primarily engaged in research and development, product development, vehicle and software development, vehicle design, and cell development.

Ola Electric Mobility Limited Financial Information (Restated Consolidated)

 

Financial Performance Summary

Revenue Growth: Between FY2023 and FY2024, Ola Electric’s revenue witnessed a substantial increase of 88.42%.

Profit After Tax (PAT): However, the company’s PAT declined by 7.63% during the same period.

Description	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021
Assets	₹7,735.41	₹5,573.17	₹5,395.86	₹2,112.64
Revenue	₹5,243.27	₹2,782.70	₹456.26	₹106.08
Profit After Tax (PAT)	-₹1,584.40	-₹1,472.08	-₹784.15	-₹199.23
Net Worth	₹2,019.34	₹2,356.44	₹3,661.45	₹1,970.62
Reserves and Surplus	-₹2,882.54	-₹1,380.03	-₹68.83	₹1,999.30
Total Borrowing	₹2,389.21	₹1,645.75	₹750.41	₹38.87

Notes:

• Profit After Tax (PAT) is a profitability measure that reflects the net profit of the company after accounting for all expenses and taxes. A negative PAT indicates a net loss.
• Reserves and Surplus represent the accumulated profits of the company that are not distributed as dividends. A negative value for reserves and surplus suggests that the company has incurred losses that have depleted its retained earnings.

This table summarises the key financial information of Ola Electric Mobility Limited for the past four fiscal years ending on March 31st. The company’s assets and revenue have grown significantly over this period. However, its profitability has fluctuated, with a net loss reported in the most recent fiscal year (2024). The company’s negative reserves and surplus also indicate that it has accumulated losses over time. The increase in total borrowing suggests that the company is relying on debt financing to support its operations.

Key Performance Indicators (KPIs)

Market Capitalization and Financial Metrics:

As of March 31, 2024, the market capitalization of OLA Electric’s Initial Public Offering (IPO) stands at Rs 33,521.75 Crores. The following Key Performance Indicators (KPI) provide insight into the financial health and valuation metrics of the company:

Financial KPIs

Metric	Value
Return on Net Worth (RoNW)	-78.46%
Price to Book Value (P/BV)	13.72
Pre-IPO Earnings Per Share (EPS)	-Rs 4.30
Post-IPO Earnings Per Share (EPS)	-Rs 3.59
Pre-IPO Price to Earnings (P/E)	-17.69
Post-IPO Price to Earnings (P/E)	-21.16

Note:

• Pre-IPO EPS is calculated based on pre-issue shareholding and FY24 earnings.
• Post-IPO EPS is calculated based on post-issue shareholding and annualised FY24 earnings.
• These values indicate the company’s earnings per share and price-to-earnings ratio before and after the IPO, based on the shareholding and annualised earnings for the fiscal year ending March 31, 2024.

Peer Comparison (as of March 31, 2024)

A comparison of OLA Electric with similar listed entities as of March 31, 2024, provides a benchmark for evaluating its performance within the industry:

Company Name	EPS (Basic)	EPS (Diluted)	NAV (Rs/share)	P/E	RoNW (%)	P/BV
Ola Electric Mobility Limited	-4.35	-4.35	5.54	-78.46	Consolidated
TVS Motor Company Ltd.	35.50	35.50	158.10	69.69	23.68	15.49
Eicher Motors Ltd.	146.18	145.92	659.06	36.78	22.17	7.44
Bajaj Auto Ltd.	272.70	272.70	1,037.41	29.95	26.61	9.38
Hero Motocorp Ltd.	187.36	187.04	892.08	27.16	20.98	6.06

Notes on Financial Information:

• Financial Data Source: The financial information for listed peers is consolidated and sourced from their respective annual reports or results for the year ending March 31, 2024, submitted to stock exchanges.
• Ola Electric Financials: Data for Ola Electric Mobility Limited is derived from the Restated Consolidated Financial Information as of March 31, 2024.
• EPS Definitions: Basic and Diluted EPS are sourced from financial statements of peer companies for the fiscal year ending March 31, 2024.
• RoNW Calculation: Return on Net Worth (RoNW) is calculated as net profit after tax divided by total equity attributable to shareholders as of March 31, 2024.
• NAV per Share: Net Asset Value (NAV) per equity share is total equity attributable to shareholders divided by the number of equity shares outstanding at year-end.
• P/E Ratio Calculation: The Price-to-Earnings (P/E) ratio for peers is computed based on the closing market price of equity shares on NSE as of July 25, 2024, divided by the Diluted EPS for the fiscal year ending March 31, 2024.
• Enterprise Value (EV): Enterprise Value includes total market capitalization and net adjusted debt as of March 31, 2024, based on restated Ind AS summary statements.

OLA IPO Review by Members:

OLA IPO has garnered attention and reviews from various retail investors. For detailed analysis and perspectives, investors can refer to OLA IPO reviews by popular members on platforms that offer IPO reviews and recommendations. These insights can help determine whether the OLA Electric Mobility Limited IPO is a recommended buy.

Disclaimer: This information is for reference only and should not be considered as investment advice. It is essential to conduct thorough research or consult with a financial advisor before making investment decisions.

Objects of the OLA Electric IPO

Ola Electric Mobility Limited intends to utilize the net proceeds from the IPO for the following purposes:

• Expansion of Cell Manufacturing Capacity: A significant portion of the funds will be allocated to Ola Cell Technologies (OCT), a subsidiary of Ola Electric, to expand the capacity of its cell manufacturing plant from 5 Gigawatt hours (GWh) to 6.4 GWh. This expansion is part of the company’s broader growth strategy.
• Debt Repayment: The company plans to use a portion of the proceeds to repay or prepay existing debt obligations of its subsidiary, Ola Electric Technologies (OET).
• Research and Development: To drive innovation and product development, Ola Electric will invest a part of the IPO proceeds into research and product development initiatives.
• Organic Growth: Funds will be allocated towards supporting the company’s organic growth strategies, which may include market expansion, infrastructure development, and operational enhancements.
• General Corporate Purposes: A portion of the proceeds will be used for general corporate purposes, such as working capital management and other operational expenses.

Essentially, the OLA IPO proceeds will be instrumental in supporting Ola Electric’s growth trajectory, enhancing its manufacturing capabilities, reducing debt burden, fostering innovation, and strengthening its overall business operations.

OLA Electric IPO Contact Information

For inquiries related to the OLA IPO, you can reach out to the following entities:

Ola Electric Mobility Limited:

• Address: 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/ (Company Website)

OLA Electric IPO Registrar:

• Link Intime India Private Ltd.
• Phone: +91-22-4918 6270
• Email: olaelectric.ipo@linkintime.co.in

Note: This information is provided for reference purposes only. It’s recommended to consult the official OLA Electric IPO documents or contact the listed entities directly for the most up-to-date information.

Invest in the future of electric mobility with Ola Electric IPO. Open a Demat account with SMC Global Securities today to apply. Easy online application, expert guidance, and seamless process. Don’t miss this opportunity!

Ola Electric IPO FAQs

 

1. How to apply for the Ola Electric IPO?

 

To apply for the Ola Electric IPO, you can follow these general steps:

1. Open a Demat Account: If you don’t have one already, open a Demat account with a registered depository participant (DP) like SMC Global Securities.
2. Submit Application: During the IPO subscription period (August 2-6, 2024), submit your application through your DP’s online platform or physically. You can also apply through your bank if it offers IPO services.
3. Bidding: Specify the number of shares you want to apply for (in multiples of the lot size).
4. Payment: Ensure sufficient funds are available in your linked bank account to cover the application amount.

Note: The specific process might vary slightly depending on the DP or bank you use. Always refer to their guidelines.

2. What is the Ola IPO Allotment Date?

The tentative allotment date for the Ola Electric IPO is Wednesday, August 7, 2024. However, this date is subject to change.

3. What is the open date of the Ola IPO?

The Ola Electric IPO opens for subscription on Friday, August 2, 2024.

4. What is the size of the Ola IPO?

The total issue size of the Ola Electric IPO is ₹6,145.56 crore. This includes a fresh issue of ₹5,500 crore and an offer for sale (OFS) of ₹645.56 crore.

5. What is the lot size of the Ola IPO?

The minimum lot size for the Ola Electric IPO is 195 shares. Investors can bid for a minimum of 195 shares and in multiples thereof.

Reference : https://www.sebi.gov.in/filings/public-issues/dec-2023/ola-electric-mobility-limited-drhp_80215.html