Ola Electric Mobility Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Ola Electric Mobility Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
IPO Snapshot
Key metrics and details at a glance.
Price Band
₹76
Per ShareLot Size
195 Shares
Minimum Investment
₹14,820
Issue Size
₹6,145.56 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Ola Electric Mobility Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
45.14%
Issue Type
Book Building
ISIN
INE0LXG01040
About the Company
Ola Electric Mobility Limited is a pure EV player in India building vertically integrated technology and manufacturing capabilities for EVs and EV components. The Company manufactures EVs and certain core EV components at the Ola Futurefactory. The Company has delivered seven products and additionally announced four new products. The Company is building its EV hub in Tamil Nadu, India, comprising its Ola Futurefactory for EV manufacturing, its Ola Gigafactory for cell manufacturing, and co-located suppliers. The Company operates a direct-to-customer omnichannel distribution network across India, comprising 870 experience centres and 431 service centres as at March 31, 2024, and its Ola Electric website.
Industry Overview
E2Ws are at the forefront of the electrification of mobility in India due to their favourable total cost of ownership and the Indian government's production-linked incentives and subsidies to promote domestic manufacturing and adoption of EVs. E2W penetration in India is expected to expand from approximately 5.4% of domestic 2W registrations in Fiscal 2024 to 41-56% of domestic 2W sales volume by Fiscal 2028, while the Indian E2W industry is expected to grow at a CAGR of 11% to reach a size of US$35 billion (Rs.2.8 trillion) to US$45 billion (Rs.3.6 trillion) in Fiscal 2028. Further, markets like Africa, LATAM and SE Asia provide a significant export opportunity for Indian E2W OEMs.
Company History
Ola Electric Mobility Limited was incorporated as `Ola Electric Mobility Private Limited' at Bengaluru, Karnataka as a private limited company under the Companies Act, 2013, pursuant to a certificate of incorporation dated February 3, 2017, issued by the Registrar of Companies, Central Registration Centre. Subsequently, the Company was converted to a public limited company and the name of the Company changed to `Ola Electric Mobility Limited' pursuant to a Shareholders' resolution dated October 5, 2023 and a fresh certificate of incorporation dated November 17, 2023 was issued by the Registrar of Companies, Karnataka at Bengaluru ("RoC").
Products & Services
- Ola Electric Mobility Limited is a pure EV player in India building vertically integrated technology and manufacturing capabilities for EVs and EV components.
Growth Strategy
- Build "India" centric EV products with an "India first" strategy.
- Continue to invest in R&D to advance its technological capabilities and optimize costs.
- Building an EV hub with vertically integrated manufacturing and supply chain to improve cost efficiency.
- Develop its cell technology and strengthen its in-house manufacturing capabilities.
- Expand the product portfolio to drive market penetration.
- Strengthen its D2C omnichannel network across sales, service and charging.
- Allocate capital efficiently and focus on growth.
- Leverage the global EV opportunity.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
initial public offering of 808,699,624# equity shares of face value of Rs. 10 each of Ola Electric Mobility Limited (The "Company" or the "Company") for cash at a price of Rs. 76 per equity share (including a premium of Rs. 66 per equity share) ("Offer Price") aggregating to Rs. 6145.56#^ crores (the "Offer") comprising a fresh issue of 723,757,627# equity shares of face value of Rs. 10 each aggregating to Rs. 5500.00#^ crores (the "Fresh Issue") and an offer for sale of 84,941,997# equity shares of face value of Rs. 10 each aggregating to Rs. 645.56# crores (the "Offer for Sale"), consisting of 37,915,211# equity shares of face value of Rs. 10 each aggregating to Rs. 288.16# crores by Bhavish Aggarwal, 4,178,996# equity shares of face value of Rs. 10 each aggregating to Rs. 31.76# crores by Indus Trust, 295,470# equity shares of face value of Rs. 10 each aggregating to Rs. 2.25# crores by AB Initio Capital, l.p., 3,782,883# equity shares of face value of Rs. 10 each aggregating to Rs. 28.75# crores by Alpha Wave Ventures ii, lp, 630,336# equity shares of face value of Rs. 10 each aggregating to Rs. 4.79# crores by Alpine opportunity fund vi, l.p., 601,828# equity shares of face value of Rs. 10 each aggregating to Rs. 4.57# crores by Ashna Advisors llp, 6,360,891# equity shares of face value of Rs. 10 each aggregating to Rs. 48.34# crores by internet fund iii pte ltd, 1,354,978# equity shares of face value of Rs. 10 each aggregating to Rs. 10.30# crores by macritchie investments pte. ltd., 89,000# equity shares of face value of Rs. 10 each aggregating to Rs. 0.67# crores by matrix partners india iii aif trust, 3,727,534# equity shares of face value of Rs. 10 each aggregating to Rs. 28.33# crores by matrix partners india investments iii, llc, 358,228# equity shares of face value of Rs. 10 each aggregating to Rs. 2.72# crores by Nuvama Private investments trust-nuvama crossover opportunities fund - series iii, 278,619# equity shares of face value of Rs. 10 each aggregating to Rs. 2.12# crores by nuvama private investments trust-nuvama crossover opportunities fund - series iii a, 278,644# equity shares of face value of Rs. 10 each aggregating to Rs. 2.12# crores by nuvama private investments trust-nuvama crossover opportunities fund - series iii b, 256,530# equity shares of face value of Rs. 10 each aggregating to Rs. 1.95# crores by sarin family india llc, 23,857,268# equity shares of face value of Rs. 10 each aggregating to Rs. 181.32# crores by svf ii ostrich (de) llc and 975,581# equity shares of face value of Rs. 10 each aggregating to Rs. 7.41# crores by tekne private ventures xv, ltd. (collectively, the "selling shareholders" and such equity shares, the "Offered Shares"). The offer included a reservation of 797,101# equity shares of face value of Rs. 10 each, aggregating to Rs. 5.50#^ crores (constituting 0.02% of the post-offer paid-up equity share capital, for subscription by eligible employees ("Employee Reservation Portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". The offer and the net offer constitutes 18.33% and 18.32% of the post-offer paid-up equity share capital of the company, respectively. #Subject to finalisation of basis of allotment. ^After employee discount. %A discount of Rs. 7 per equity share was offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Pure EV player with a leadership position in the fast-growing Indian E2W market.
- Founder led company supported by a highly experienced and professional leadership team.
- In-house R&D and technology capabilities.
- Manufacturing at scale and supply chain resilience.
- Scalable platform-based design and development approach.
- The company, including its Material Subsidiaries, Ola Electric Technologies Private Limited ("OET") and Ola Cell Technologies Private Limited ("OCT"), have incurred losses and negative cash flows from operations since inception.
- The company has a limited operating history in manufacturing EVs. There is no assurance that the company will be cost effective in its operations or profitable in the future, whether at the holding company level or at the subsidiary level.
- The company has heavily invested in and plan to continue investing in research and development ("R&D") and technology. There is no assurance that its will realise returns on such investments.
- The company could experience disruptions in the supply or an increase in prices of components and raw materials used in the manufacture of its electric vehicles, which could result in an increase in the price of its electric vehicles and impact the company projected manufacturing and delivery timelines.
- Any reduction or elimination of government incentives or the ineligibility of any of its electric vehicles for such incentives would increase the retail price of the company electric vehicles and could adversely affect customer demand for its electric vehicles and affect the company ability to achieve profitability.