Ola Electric Mobility IPO has come to the market as a book built issue. The issue consist of fresh issue of Rs 5,500. 000 shares which will raise the long term borrowings maximum up to Rs 50 crore and offer for sale of 8. 49 crore shares.
OLA Electric’s IPO is available to investors on from the 2 nd of August, 2024 and closes on 6 th August, 2024. The house allocation for the OLA Electric IPO is likely to be released on Wednesday – August 7, 2024. OLA Electric IPO will be a listed in BSE and NSE with the provisional listing schedule for the IPO being Friday, 9 August 2024.
Unfortunately, information about the IPO price bands are still pending, and thus OLA Electric does not have any specific IPO price bands at the time of compiling this paper.
Goals of the Issue Ola Electric Mobility IPO
The company proposes to utilise the Net Proceeds towards funding the following objects:The company proposes to utilise the Net Proceeds towards funding the following objects:
Capital expenditure to be incurred during the year to include – – Acquisition of set equipment to be made by its Subsidiary, OCT for expansion of the cell manufacturing plant from 5 GWH to 6. 4 GWh, categorized as Phase 2 in the context of the Project defined as “Expansion Plan”.
Purchase and payoff for a fixed or any interest of the indebtedness that was borrowed by its Subsidiary, OET.
New product formation and new product development expenditure;
Amount of money that has been set aside for the expenses related to attaining organic growth objectives.
General corporate purposes.
Details of Ola Electric Mobility IPO
OLA Electric IPO opens on August 2, 2024, and closes on August 6, 2024.
| IPO Open Date | Friday, August 2, 2024 |
| IPO Close 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 |
Promoter Holding of OLA Electric IPO
The promoter of the Company is Bhavish Aggarwal.
| Share Holding Pre Issue | 85.77% |
Financial Information of Ola Electric Mobility IPO
Ola Electric Mobility Limited’s revenue increased by 88.42% and profit after tax (PAT) dropped by -7.63% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 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 | -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 |
| Amount in ₹ Crore | ||||
Business Model and Operations of Ola Electric Mobility IPO
Ola Electric’s business model is centered around providing a comprehensive ecosystem for electric mobility. Key aspects of its operations include:
- Electric Vehicles: Manufacturing high-quality, affordable electric scooters aimed at the mass market. Their flagship product, the Ola S1, has received positive reviews for its design, performance, and range.
- Charging Infrastructure: Developing an extensive network of charging stations to support EV users and reduce range anxiety.
- Battery Swapping: Implementing battery-swapping stations to offer a convenient and quick alternative to traditional charging methods.
- Sustainability Focus: Committed to reducing carbon emissions and promoting sustainable transportation solutions.
Conclusion
the Ola Electric Mobility Limited IPO is a good chance that investors should consider to take part in the successful EV business in the country. Currently, Ola Electric has a dominant market position, it offers genuinely innovative products for citizens, and the company operates in a field that is closely connected with the concept of sustainable development. Thus, similar to any investment, there is a need for investors to carry out proper research and be aware of some of the risks that may be associated with a certain investment. The IPO could indicate the next large step towards the promoting of the EV startup Ola Electric. click here to under stand what is ipo?
How to apply Ola Electric Mobility Limited IPO ?
STEPS to login in Zerodha Console
Step 1: Go-to the console page of zerodha. Then Click on log in to your account Enter this Zerodha user ID, password and PIN access your account.
Step 2: Go to the IPO Segment
Step 3: Visit the ‘Portfolio’: After login click on Portfolio tab, available at left side menu.
Step 4: IPO search Click on ‘IPO’ which is under the tab of Portfolio to view a list comprising all active IPOs.
Step 5: Click on the Ola Electric Mobility Limited IPO
Search the IPO: You can filter by Ola Electric Mobility Limited IPO and search from a list of available public offerings.
Finally, click on ‘Apply’: Upon finding Ola Electric Mobility Limited IPO you just need to select Apply (along with Submit after entering the input details).
Step 6: Type your Application Details
In the application form, you have to enter your UPI ID: Enter Your UPI Id Once added the UPI ID, it can link to a bank account which have enough balance for applying.
Bid Quantity: Qty Enter Number of shares Qty up to Bid Price, Integer only Click on the option ‘Cut-off’ to apply at cut-off price.
Check your field details: Review All the accurate information entered
Step 7: Apply for the position
Submission: After filling all these opportunities click on the submit button as shown below.
UPI Mandate: There you will get a UPI mandate request in your UPI app. Open the app and confirm the mandate to withhold funds for IPO application
Step 8: Trust the Process
Verify the status: After you have accepted a UPI mandate, your IPO application will be submitted successfully Processed Petition available in the IPO tab under Order Book.