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IPO Status: Listed [2nd Aug 2024 to 6th Aug 2024]
OLA Electric IPO, a Mainline IPO of ₹6145.56 Cr was launced on 02-08-2024 to 06-08-2024 and the shares got listed on BSE, NSE on 09-08-2024.
The public issue of OLA Electric IPO (OLAELEC,544225) was offered at ₹76.00 per share and the ipo was listed at ₹76.00. It has delivered at par listing .
As the minimum lot size was 195 shares, the IPO has offered Rs 0.00 per lot loss on listing.
| IPO Issue Opening Date: | 2nd Aug 2024 |
| IPO Issue Closing Date: | 6th Aug 2024 |
| IPO Issue Price: | ₹72.00-76.00 Per Share |
| DRHP: | Download DRHP |
| RHP: | Download RHP |
| Anchor List: | Download Anchor List |
| IPO Listing At: | BSE, NSE |
| Retail Quota: | Not more than 10% of the Net Issue |
| IPO Issue Type: | Book Build Issue |
| IPO Issue Size: | ₹6145.56 Cr |
| Offer for Sale: | ₹645.56 Cr |
| Fresh Issue: | ₹5500.00 Cr |
| Face Value: | ₹10 Per Equity Share |
| IPO Discount: | Emplopee:7.00 |
| Promoter Holding Pre IPO: | 85.77% |
| Promoter Holding Post IPO: | |
| Allotment Status: | Allotment Status |
| BSE Code: | 544225 |
| NSE Code: | OLAELEC |
Get important updates regarding OLA Electric IPO tentative timeline covering IPO opening, closing, allotment, and listing dates. Dates are updated as they are announced.
| IPO Activity | Date |
|---|---|
| Basis of Allotment Date* | 7th Aug 2024 |
| Refunds Initiation* | 8th Aug 2024 |
| Credit of Shares to Demat* | 8th Aug 2024 |
| IPO Listing Date* | 9th Aug 2024 |
* - Tentative Dates
| IPO Activity | Date |
|---|---|
| Issue Price | ₹72.00-76.00 |
| Market Lot: | 195 Shares |
| 1 Lot Amount: | ₹14820 |
| Min Small HNI Lots(2-10 Lakh): | 2730 shares (14 lots) - ₹207480 |
| Min Big HNI Lots(10+ Lakh): | 13260 shares (68 lots) - ₹1007760 |
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Expected Listing Gain | Last Updated |
|---|---|---|---|---|---|
| 09-08-2024 | 76.00 | -3 | -- | ₹73 (-3.95%) | 9-Aug-2024 10:25 |
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**The GMP prices shown here are only news related to the grey market. We do not trade/deal in grey market or subject to rates (sub2), nor do we recommend trading in grey market.
Established in February 2017, Ola Electric Mobility Limited is a pure-play EV player in India, building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. The Ola Future factory manufactures electric vehicles and certain core components for EVs such as batteries, motors and vehicle frames.
Since the first product announcement in August 2021, the company has delivered its products and announced six more new products. Deliveries of the first EV model, the Ola S1 Pro, began in December 2021, followed by deliveries of the Ola S1 in September 2022, the Ola S1 Air in August 2023 and the Ola S1 X+ in December 2023. On August 15, 2023, the company announced additional new e-scooter models, the Ola S1 X (2 kWh) and the Ola S1 X (3 Wh), alongside the Ola S1 X+, as well as a motorcycle range consisting of the Diamondhead, Adventure, Roadster and Cruiser models. The delivery of the
Ola S1 X (2 kWh) and Ola S1 X (3 kWh) in the first half of the 2025 financial year. The company operates its omnichannel direct-to-consumer (“D2C”) distribution network comprising 935 experience centres and 414 service centres (including 410 service centres in experience centres) across India (as of October 31, 2023), in addition to its la electric website. According to the Redseer report, the network of experience centres was the largest company-owned network of experience centres in India as of September 30, 2023.
| Incorporation | Sector | IPO Issue Size | Website |
| 2017 | 2/3 Wheelers | ₹6145.56 Cr | https://www.olaelectric.com/ |
The company proposes to utilise the Net Proceeds towards funding the following objects:
Our experts can help you prepare for SME IPO
The table below is live update of IPO bidding details from NSE and BSE.
| Day | QIB | NII | RII | EMP | Total | |
|---|---|---|---|---|---|---|
| # of Shares Offered | 242,370,750 (54.45%) | 121,185,387 (27.22%) | 80,790,252 (18.15%) | 797,101 | 445,143,490 | |
| 1 | 2nd Aug 2024 19:04 | 0.00x | 0.22x | 1.70x | 5.42x | 0.38x |
| 2 | 5th Aug 2024 19:04 | 0.42x | 1.17x | 3.05x | 9.72x | 1.12x |
| 3 | 6th Aug 2024 18:21 | 5.53x | 2.51x | 4.05x | 12.38x | 4.45x |
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 | ||||
The table below show peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Ola Electric Mobility Limited | -4.35 | -4.35 | 5.54 | -78.46 | Consolidated | |
| Tvs Motor Company Ltd. | 35.5 | 35.5 | 158.1 | 69.69 | 23.68 | Consolidated |
| Eicher Motors Ltd. | 146.18 | 145.92 | 659.06 | 36.78 | 22.17 | Consolidated |
| Bajaj Auto Ltd. | 272.7 | 272.7 | 1037.41 | 29.95 | 26.61 | Consolidated |
| Hero Motocorp Ltd. | 187.36 | 187.04 | 892.08 | 27.16 | 20.98 | Consolidated |
Last Updated on 13-Aug-2024 07:02:51
Zerodha allows to apply online in IPOs via their back office software "console". UPI payment mode is to be used to apply online through Zerodha. To purchase OLA Electric IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detailed article Step by Step Guide to apply OLA Electric IPO with Zerodha.
Alternate approch to apply in OLA Electric IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.
OLA Electric IPO Review and Important Updates
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To subscribe or apply in OLA Electric IPO, you can use the following methods:
| OLA Electric IPO Applying Mode | ||
| Online Application | 3-in-1 Trading Account | If your broker is 3-in-1 service provider, you can apply in OLA Electric IPO directly with your brokers website. Example HDFC Sky, ICICI Direct, AxisDirect are 3-in-1 brokers provide you direct IPO investment. |
| Online Application | 2-in-1 Trading Account | Brokers like Zerodha, TradeSmart Online provides access to applying in OLA Electric IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online. |
| Online Application | ASBA | This is one of the most popular mode of applying in OLA Electric IPO. Most of the Syndicate Banks provide access to apply in OLA Electric IPO via ASBA process. You must have your net banking access, DP ID information to apply in OLA Electric IPO via ASBA. Bank like Axis, SBI allows you to apply maximum 5 application from one bank account. However, ICICI, HDFC bank have limit of one IPO ASBA application per account. |
| Offline Application | Physical Form | You can apply in OLA Electric IPO via physical form, but not with ASBA. Physical Forms need to be filled using UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app. |
OLA Electric IPO Review and Important Updates
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Applying in OLA Electric IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download OLA Electric IPO application online and submit to the nearest bank or to your broker. With new mandate from SEBI, all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.
For more details on how to use UPI payment method to apply OLA Electric IPO, please refer article >> Link
OLA Electric IPO Review and Important Updates
Steps to download the online application form for OLA Electric IPO
Or
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OLA Electric IPO is going to be list on 09-08-2024. NSE Code for OLA Electric is OLAELEC. BSE Code for OLA Electric is 544225.
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OLA Electric IPO Allotment Date is 07-08-2024.
Other relevant questions:
OLA Electric IPO share allotment date?OLA Electric IPO allotment date?
