Ola Electric Mobility Limited (MAINBOARD)

Aug 2, 2024 - Aug 6, 2024

Price ₹72 - ₹76
Premium ₹-1
Lot size 195
Allotment Aug 7, 2024
Listing Aug 9, 2024

Category Lot(s) Qty Amount Reserved
Retail 1 195 14820 414309
sHNI 14 2730 207480 14797
bHNI 68 13260 1007760 29593

Last updated on 06-Aug-2024 23:41:02

CategoryOfferedAppliedTimes
QIBs24237075013403399105.53
HNIs1211853873049729802.52
 HNIs 10+807902522225029952.75
 HNIs 2+40395135824699852.04
Retail807902523324455554.11
Employees7971011014604512.73
Total44514349019879044904.47
Application Wise Breakup (Approx)
CategoryReservedAppliedTimes
HNIs (10L+)29593156610.53
HNIs (2-10L)14797269511.82
Retail41430913267613.20
Total Applications: 1369373
© IPO Premium
QIB Interest Cost per share (7 Days)
@7%
₹0.56
@8%
₹0.64
@9%
₹0.73
@10%
₹0.81
@11%
₹0.89
@12%
₹0.97
About

IPO Details

Issue SizeUp to [808,626,207] Equity Shares aggregating up to [6145.56] Cr
Offer For SaleUp to [84,941,997 ] Equity Shares aggregating up to [645.56] Cr
Fresh IssueUp to [ 723684211] Equity Shares aggregating up to 5500 Cr
Issue TypeBook Built Issue IPO
Listing AtNSE,BSE
Share holding pre issue3,687,072,258
Share holding post issue4,410,756,468

IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot less than 75.00% of the Net offer
Retail Shares OfferedNot more than 10.00% of the Offer
NII (HNI) Shares OfferedNot less than 15.00% of the Offer

Key Performance Indicators

KPIMar-24Mar-23Mar-22
RONW-78.46%-62.47%-21.42%
D/E2.010.72-0.1
EPS
(basic)
-4.35-3.91-2.23
P/E
Pre IPO
-17.69
P/E
Post IPO
-21.16

Financial Statement (Restated)

Period EndedMar-24Mar-23Mar-22Mar-21
Assets7,735.405,573.175,395.862,112.64
Revenue5,243.272,782.70456.26106.08
Profit After Tax-1,584.40-1,472.08-784.15-199.23
Net Worth2,019.332,356.443,661.451,970.62
Reserves and Surplus-2,882.54-1,380.03-68.831,999.30
Total Borrowing2,389.211,645.75750.4138.87
Amount in Crore

About Company

Incorporated in 2017, Ola Electric Mobility Limited is a pioneering EV company focused on manufacturing electric vehicles and core components such as battery packs, motors, and vehicle frames at the Ola Futurefactory. Since August 2021, the company has introduced four new products, starting with the Ola S1 Pro, and announced six more, including a lineup of innovative motorcycles. By October 31, 2023, Ola Electric had established a robust direct-to-customer (D2C) omnichannel distribution network across India, featuring 935 experience centers and 414 service centers, complemented by an online presence. In Fiscal 2023, the company exported 75% of its two-wheelers to markets with limited domestic E2W supply, such as Africa, LATAM, and Southeast Asia. Ola Electric's business model is anchored on three scalable platforms: in-house R&D and technology development, a flexible manufacturing and supply chain system, and an extensive D2C distribution network.As of March 31, 2024, the company had 959 employees (including 907 permanent employees and 52 freelancers) who focus on research and development. They are dedicated to product development, vehicle and software development, vehicle design, and cell development.
Lead Manager(s)

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

Bob Capital Markets Limited 

Strength

In-house R&D and Technology Capabilities: Ola Electric's R&D efforts in India, the UK, and the US focus on five key technologies, ensuring advanced development in software, electronics, motors, drivetrains, cells, and battery packs.

Manufacturing at Scale and Supply Chain Resilience: The Ola Futurefactory, with a capacity of one million units per year, allows the company to maintain control over EV performance and quality through in-house design and manufacturing of core components.

Scalable Platform-based Design and Development: Leveraging common elements like modular battery packs and power electronics, Ola Electric efficiently develops new EV models, enhancing adaptability and innovation.

Weakness

Financial Losses and Negative Cash Flow: Since inception, Ola Electric and its subsidiaries have incurred losses and negative cash flows from operations, posing a financial risk to the company's stability and growth.

Supply Chain Disruptions: Potential disruptions in the supply or increased prices of components and raw materials could raise the cost of manufacturing EVs, affecting pricing and delivery schedules.

Uncertain R&D Returns: Despite significant investments in R&D and technology, there is no guarantee of realizing returns on these investments, which could impact the company's future profitability and innovation capabilities.

Registrar

Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: olaelectric.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html