URL copied to clipboard

Trending News

Ola Electric Revs Up for IPO: Prices Set at Rs 72 to 76, Targets Rs 5500 Cr Fresh Issue!

Ola Electric sets its IPO price at Rs 72 to 76 and comprises a fresh issue of Rs 5500 cr opening on August 2. Despite increased revenue and a 35% market share in E2Ws.

Ola Electric Mobility Ltd has set its IPO price band at Rs 72 to 76 per share. The IPO, opening on August 2, comprises a fresh issue of Rs 5500 crore and an offer for sale (OFS) up to Rs 645.96 crore, totaling Rs 6145.96 crore.

Anchor investor bidding starts on August 1, with the IPO closing on August 6. The company’s market capitalization is projected to be around Rs 33,500 crore, reflecting substantial investor interest.

Prominent shareholders, including Bhavish Aggarwal and Indus Trust, are set to sell shares in the OFS, along with major investors like SVF II Ostrich (DE) LLC. Funds from the IPO are earmarked for research, product development, and organic growth initiatives.

Despite a robust revenue increase to Rs 5,009.8 crore in FY24, Ola continues to face losses, with a net loss expanding to Rs 1,584.4 crore. The company’s EBITDA loss also widened, emphasising the high costs of expansion.

Ola’s market presence in the E2W segment grew to a 35% share by the end of FY24, driven by extensive distribution networks including 870 experience centres and robust sales growth. This positions Ola as a leader in India’s burgeoning electric vehicle market.

Loading
Read More News