Ola Electric IPO

About Ola Electric Limited

Ola Electric Mobility Limited is a leading electric vehicle (EV) company in India, specialising in the development and manufacturing of EVs and core components like battery packs, motors, and vehicle frames. Founded in 2010 by Ankit Bhati and Bhavish Aggarwal, Ola's headquarters is in Bangalore. Originally known for its ride-hailing services, Ola expanded into the EV market with the launch of the Ola S1 Pro in December 2021, followed by several other models, including the Ola S1, Ola S1 Air, and Ola S1 X+.

Ola's state-of-the-art Ola Futurefactory, located in Tamil Nadu, is the largest integrated and automated electric two-wheeler (E2W) manufacturing plant in India. The company focuses heavily on research and development, with facilities in India, the UK, and the US, dedicated to designing and innovating new EV products and components.

Ola Electric has quickly become the top E2W ( electric two-wheeler) brand in India, achieving the highest revenue among Indian electric two-wheeler manufacturers in Fiscal 2023. 

Its direct-to-customer distribution network includes 935 experience centers and 414 service centers across India, making it the largest company-owned network of its kind in the country. Future plans include expanding their EV offerings and exploring international markets.

Industry Outlook:

1. India's automotive market produced approximately 26 million vehicles in FY 2023, contributing about 35% to the manufacturing GDP and 5-6% to the overall GDP. 
2. Electric two-wheeler (E2W) registrations increased significantly, reaching about 5.1% of the overall two-wheeler market in the first half of FY 2024. 
3. Advancements in lithium-ion battery technology, such as NMC and LFP, are driving the adoption of EVs, offering benefits like higher energy density and lower total cost of ownership. 

Ola Electric IPO Objectives 

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. Utilise ₹12,264.27 million for capital expenditure to expand the cell manufacturing plant from 5 GWh to 6.4 GWh.
2. Allocate ₹8,000 million for repaying or pre-paying the indebtedness of the subsidiary, OET.
3. Invest ₹16,000 million into research and development to drive innovation and enhance product offerings.
4. Utilise ₹3,500 million for initiatives aimed at organic growth to strengthen market position.
5. Allocate remaining funds for general corporate purposes to support overall business operations and flexibility.

Peer Details

The companies considered by Ola Electric Mobility Limited as its peers include:

1. TVS Motors
2. Eicher Motors
3. Bajaj Auto
4. Hero MotoCorp

How to Apply for Ola Electric IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select Ola Electric IPO: Find and select the Ola Electric IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.

How to Check the Allotment Status of the Ola Electric Mobility IPO ?

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• Log in to the Angel One app
• Go to the individual order details page of the IPO that you had applied for. 
• Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Ola Electric Mobility IPO

Registered office: Regent Insignia, 414 3rd Floor, 4th Block, 17th Main 100 Feet Road, Koramangala, Bengaluru 560 034, Karnataka, India

Email: ipo@olaelectric.com

Phone: +91 80 3544 0050