The IPO includes a new issue of Rs. 5,500 crore as well as an offer to sell (OFS) of 95,191,195 equity shares. As a result, the company has not yet made public the dates for share allocation and listing. Thus, these are the Ola electric IPO details, the book-running lead managers for this IPO are Kotak Mahindra Capital Company Limited, BofA Securities India Limited, Axis Capital Limited, Citigroup Global Marketers India Private Limited, Goldsman Sachs (India) Securities Private Limited, ICICI Securities Limited, SBI Capital Markets Limited, and BOB Capital Markets Limited. Concurrently, the registration is accessible through the link for Intime India Private Limited.
Objectives of the OLA Electric Mobility IPO
- To finance the capital costs that the subsidiary, OCT, will incur to expand the cell manufacturing plant’s capacity from 5 GWh to 6.4 GWh, which qualifies as phase 2 of the expansion plan.
- To pay back or prepay, in full or in part, the loans that the OCT subsidy received
- To conduct research and create new products
- To finance initiatives for organic growth.
- For general corporate purposes.
Share Price Of OLA Electric
A new Ola Electric IPO share price of up to ₹5,500 crore is planned, in addition to an offer for sale (OFS) of 95,191,195 existing shares, each with a nominal value of ₹10. In fact, India’s first pure-play to submit an IPO application is Ola Electric. To strengthen its position in the electric two-wheeler market, Ola Electric is taking a big step with its initial public offering (IPO), which aims to raise Rs 5,500 crore.
Bhavish Aggarwal-led #OlaElectric is close to signing up anchor investors for its initial public offering (#IPO), the first in India's electric vehicle space, two people aware of the development said.
(@Alisha2494 reports)https://t.co/8SmSkd2KUw
— Mint (@livemint) March 21, 2024
Dates for Ola Electric IPO
Ola electric IPO date and time are not available yet in its DRHP; however, several media reports claim that the public issue will open in early 2024. Additionally, neither the issue’s offer price nor the IPO price range have been disclosed as of yet.
About Ola Electric Mobility
OLa Electric Mobility operates as an all-electric business. In fact, at the Ola future factory, the company produces motor vehicle frames, battery packs, and other essential EV components.
Among all Indian-incorporated electric two-wheeler original equipment manufacturers (OEMs), the company’s revenue from E2W sales was the highest in FY 2023.
IPO से पहले OLA की बड़ी तैयारी, Electric Three Wheeler सेगमेंट में जल्द होगी एंट्री! देखिए वीडियो#IPO #OLA #OLAElectric #ThreeWheeler #EVVehicles pic.twitter.com/w2LZh2p5uE
— ET Now Swadesh (@ETNowSwadesh) March 22, 2024
The US, UK, and India are the locations where the company carries out research and development (R&D), with a primary focus on the design and development of various EVs and EV components. Olas also intends to construct its EV hub in Tamil Nadu, India, at Krishnagiri and Dharmapuri.
Ola electric IPO GMP
Depending on supply and demand for shares in the grey market, speculators in the grey market set the GMP, which is the premium price over the issue price in an initial public offering (IPO).
Ola Electric IPO GMP is also unidentifiable in the grey market because the issue price of the IPO has not been revealed or declared by the company. Although it can indicate a company’s share price, the GMP is not a reliable indicator of an unlisted company’s expected listing price. At that price, the share will likely trade on the secondary market.
Ola Electric IPO Market Lot
It is currently unknown what the minimum Ola electric IPO lot size is. Up to 13 lots may be sought for by retail investors.
Steps to Apply for the Ola Electric IPO
- Step 1: You can only submit an application for the bid when the Ola Electric IPO opens.
- Step 2: Open your browser, go to trade.moneysukh.com, and enter your username and password to log in.
- Step 3: Select the Ola Electric IPO by navigating to the IPO section.
- Step 4: In addition, you must enter all the necessary information, such as the price and quantity.
Ola Electric IPO Expected Price
The Ola electric IPO expected price to cost about Rs 8,500 crore, will include a combination of fresh equity and offers for sale by some of its existing investors, according to reports.
Ola Electric IPO Details: Short Summary
| Detail | Description |
| New Issue Amount | ₹5,500 crore |
| Offer for Sale (OFS) Shares | 95,191,195 equity shares |
| Book-Running Lead Managers | Kotak Mahindra Capital Company Limited, BofA Securities India Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited, SBI Capital Markets Limited, BOB Capital Markets Limited |
| Registration Accessible through | Intime India Private Limited |
| Objectives | – Finance expansion of cell manufacturing plant |
| – Repay loans | |
| – Research and development for new products | |
| – Finance initiatives for organic growth | |
| – General corporate purposes | |
| Share Price Range | Not disclosed |
| IPO Date | Early 2024 (according to media reports) |
| Ola Electric Mobility Operations | – Operates as an all-electric business |
| – Produces motor vehicle frames, battery packs, and other EV components | |
| – Highest revenue from E2W sales among Indian-incorporated electric two-wheeler OEMs in FY 2023 | |
| – R&D operations in US, UK, and India, with a focus on EV design and development | |
| – Plans to build EV hub in Tamil Nadu, India | |
| IPO GMP | Unidentifiable due to undisclosed IPO price |
| Market Lot | Unknown |
| Expected IPO Price | Around ₹8,500 crore, a combination of fresh equity and offers for sale by existing investors |
Conclusion
The release of the Ola electric IPO details marks a significant step toward a more environmentally friendly and sustainable transportation future. Finally, visit ScoopNonstop to get the most recent information about the upcoming IPO in India.
FAQs
1- What will the Ola IPO price be?
The initial offering consists of 95,191,195 equity shares at a face value of Rs 10 and an equity share issue up to Rs 5,500 crore. Not to mention, according to draft documents filed on December 22, 2023, Bhavish Aggarwal, the founder of Ola EV, will sell 47.4 million shares.
2- Is Ola Electric listed in stock market?
Ola Electric plans to start an initial public offering (IPO) in 2024 and on December 26, 2023, it filed its Draft Red Herring Prospectus (DRHP) to SEBI. Moreover, the offering will consist of 9.52 crore shares through an offer for sale (OFS) and ₹5,500 crore shares through a new issue. Every Ola Electric share has a face value of ₹ 10.
3. How do you apply for the initial public offering of Ola Electric?
In two easy steps, you can use any UPI app that supports it to apply for the Ola Electric Mobility Limited IPO. Make an offer for Kite. After that, on your phone, consent to the UPI requirement.
4. How much is Ola Electric worth?
When Ola Electric raised $385 million in debt and equity from SBI and Temasek in October 2023, the company was valued at $5.4 billion. In short, the business has raised more than $1.5 billion from a number of well-known investors thus far.
5. How Can I Purchase Ola Electric Stock?
There are two ways to invest in Ola Electric Stock
Direct investment: By creating a Demat account with Angel One, you can purchase shares of Ola Electric Mobility
Investing indirectly: The indirect approach entails purchasing shares of Ola Electric Mobility through mutual funds and exchange-traded funds (ETFs).
