Ola Electric Mobility Limited IPO Opens On August 02. Check IPO Details Issue Date Price

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Ola Electric Mobility Limited IPO Opens On August 02. Check IPO Details Issue Date Price

July 31, 2024
Ola Electric Mobility Limited IPO Opens On August 02. Check IPO Details Issue Date Price

Ola Electric Mobility Limited is coming out with an initial public offer to raise Rs. 6145.56 crores from the market.

Below are the details of the Ola Electric Mobility Limited IPO:

  • Issue opens – August 02 (Friday)
  • Issue closes – August 06 (Tuesday)
  • Issue size – Rs. 6145.56 crores
  • Price band – Rs. 72 to 76 per equity share
  • Bid lot – 195 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Ola Electric Mobility Limited are a pure EV player in India and are building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. They manufacture EVs and certain core EV components like battery packs, motors and vehicle frames at the Ola Future factory. Their business focuses on capturing the opportunity arising out of electrification of mobility in India and they also seek opportunities to export their EVs in select international markets in the future. They have delivered seven products and additionally announced four new products since their first product announcement in August 2021. They commenced delivery of their 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, the Ola S1 X+ in December 2023 and the Ola S1 X (2 kWh), the Ola S1 X (3 kWh) and the Ola S1 X (4 kWh) in May 2024. On August 15, 2023, they also announced a line-up of motorcycles comprising four models, Diamondhead, Adventure, Roadster and Cruiser.
  • They 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 their 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 is at the core of their business model with a focus on in-house product innovation. They undertake R&D activities in India, the United Kingdom (“UK”) and the United States (“US”) focused on designing and developing new EV products and core EV components, such as battery packs, motors and vehicle frames. They are in the process of building their EV hub in Krishnagiri and Dharmapuri districts in Tamil Nadu, India, which includes their Ola Futurefactory, their upcoming Ola Gigafactory and co-located suppliers in Krishnagiri district.
  • They operate their own direct-to-customer (“D2C”) omnichannel distribution network across India, comprising 870 experience centres and 431 service centres (of which 429 service centres are located within experience centres) as at March 31, 2024 in addition to their Ola Electric website. Their network of experience centres was India’s largest company-owned network of experience centres as at March 31, 2024 according to the Redseer Report.

Issue Size : Rs. 6145.56 Crores

Employee Reservation: Shares aggregating up to Rs. 5.5 crores

Employee Discount: Rs. 7 per share

Issue break-up :

QIB – 75% of the net offer – Rs. 4605.04 Cr.
NIB – 15 % of the net offer – Rs. 921.01 Cr.
RET – 10% of the net offer – Rs. 614.01 Cr.

Listing : BSE & NSE

Registrar : Link Intime India Private Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Tuesday, 6th August 2024.

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