This comprehensive article aims to provide detailed insights into Ola Electric’s IPO, covering various aspects including the IPO date, news, GMP, valuation, and size. It will also offer deep insights into the company’s background, financial performance, market analysis, and future prospects. The goal is to provide potential investors with the necessary information to make informed decisions.
About Ola Electric
Ola Electric is a subsidiary of the ride-hailing giant Ola. It has emerged as a significant electric vehicle (EV) market player. It was founded by Mr. Bhavish Aggarwal with a vision to revolutionize urban mobility. Ola Electric focuses on developing affordable, sustainable, and high-performance electric scooters and vehicles. The company’s innovative approach and rapid growth have positioned it as a leader in the Indian EV industry.
Ola IPO Details
Ola Electric IPO Date
Ola Electric IPO will open for subscription on August 2, 2024, and closes on August 6, 2024. The final confirmation for the allotment will be made on August 7, 2024. It will list on NSE and BSE on August 9, 2024.
Ola Electric GMP
The grey market premium (GMP) of Ola Electric as of July 29, 2024, is Rs 12 per share. It is expected to list at Rs 88. The expected (gain/loss) to investors would be around 16.5%.
Ola Electric Issue Size
The IPO is a book-built issue of Rs 6,145.56 crore. The issue is a combination of a fresh issue of 72.37 crore shares aggregating to Rs 5,500.00 crores and an offer for sale of 8.49 crore shares aggregating to Rs 645.56 crores.
Ola Electric Price Band and Lot Size
The expected price band of Ola Electric IPO is Rs 72-76 per share. The minimum number of shares in a lot stands at 195. Investors require a minimum capital of Rs 14,820 to purchase a single lot of Ola Electric IPO. The minimum lot size investment for sNII is 14 lots (2,730 shares), amounting to ₹207,480, and for bNII, it is 68 lots (13,260 shares), aggregating to ₹1,007,760.
Leading Players Managing Ola Electric IPO
Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, Axis Capital Limited, SBI Capital Markets Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited, and Bob Capital Markets Limited are the book-running lead managers of the OLA Electric IPO, while Link Intime India Private Ltd is the registrar for this issue.
Ola Electric's Market Position
Ola Electric has made a niche for itself in the Indian EV market by focusing on electric scooters, a segment with high demand and growth potential. The company’s innovative products, competitive pricing, and extensive charging infrastructure have given it a competitive edge.
Ola Electric IPO Details: Overview
Ola Electric IPO Reservation
Financial Statements of Ola Electric (in crores)
Objective of Ola Electric IPO
The major objective of OLA Electric is to:
- Repay their standing loans incurred by the subsidiary.
- Investment in Research and Development for future projects.
- Invest money in their upcoming growth projects.
- General growth purpose.
- Cell manufacturing expansion plan.
Future Market Trends Analysis
The future of the EV market looks promising, with anticipated advancements in battery technology, increased government support, and growing consumer awareness. Ola Electric is well-positioned to capitalize on these trends and expand its market presence.
For more details refer to the RHP provided by Ola Electric.
FAQs: Ola IPO Guide
OLA Electric IPO opens for subscription on August 2, 2024 and closes on August 6, 2024. The allotment for the OLA Electric IPO is expected to be finalized on Wednesday, August 7, 2024. OLA Electric IPO will be listed on BSE, and NSE with a tentative listing date fixed as Friday, August 9, 2024.
Ola Electric’s valuation for the IPO is projected to be around $10 billion. This valuation is based on the company’s strong market position, innovative product offerings, and growth potential in the electric vehicle (EV) sector.
The Grey Market Premium (GMP) for Ola Electric’s IPO is currently showing positive trends, indicating strong investor interest. GMP trends can fluctuate and currently, it is Rs 12 for one share.
The IPO is a book-built issue of Rs 6,145.56 crore. The issue is a combination of a fresh issue of 72.37 crore shares aggregating to Rs 5,500.00 crores and an offer for sale of 8.49 crore shares aggregating to Rs 645.56 crores.
Ola Electric represents a promising investment due to its leading position in the Indian EV market, innovative products, strong financial performance, and significant growth potential. Additionally, the company’s focus on sustainability aligns with global trends toward eco-friendly transportation.
The proceeds from the IPO will be allocated to various strategic initiatives, including the development of new electric vehicle models, expansion of manufacturing capabilities, enhancement of charging infrastructure and furthering R&D efforts.
Investing in Ola Electric’s IPO carries risks such as market competition, regulatory changes, technological advancements, and potential supply chain disruptions. Investors should carefully consider these factors and conduct thorough due diligence before making an investment decision.
Written By- Himanshu Kumar
Reviewed By- Satish Kannauj
