Ola Electric Mobility IPO
Ola Electric Mobility IPO — date, price band, lot size & details 2024
Ola Electric Mobility listed on 9 Aug 2024 at ₹76, flat to the ₹76 issue price.
Ola Electric Mobility is a pure EV company in India that makes electric scooters and core EV parts at its Ola Futurefactory in Tamil Nadu. Its total income was Rs 5,243.27 crore in FY2024.
Stock price
Ola Electric Mobility is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 02 Aug 2024
- Close 06 Aug 2024
- Allotment 07 Aug 2024
- Refund/credit 08 Aug 2024
- Listing 09 Aug 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 2 to 6 Aug, 2024 |
|---|---|
| Price Band | ₹72 – ₹76 |
| Face Value | ₹10 |
| Lot Size | 195 Shares |
| Issue Size | ₹6145.56 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Employee Discount | Rs 7.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,820 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 195 shares at the ₹76 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 195 | ₹14,820 |
| Retail (max) | 13 | 2,535 | ₹1,92,660 |
| S-HNI (min) | 14 | 2,730 | ₹2,07,480 |
| S-HNI (max) | 67 | 13,065 | ₹9,92,940 |
| B-HNI (min) | 68 | 13,260 | ₹10,07,760 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 456.26 crore in FY2022 to Rs 5,243.27 crore in FY2024.
- 02Rs 5,500.06 crore of the issue was fresh capital for cells, R&D and debt repayment.
- 03It is building its own cell Gigafactory, with Rs 1,227.64 crore of the issue for the cell project.
- 04It sells directly through 870 experience centres and 431 service centres.
Risks · 5
- 01The company made large losses, of Rs 784.15 crore in FY2022, Rs 1,472.08 crore in FY2023 and Rs 1,584.40 crore in FY2024.
- 02Net worth fell from Rs 3,661.45 crore on 31 March 2022 to Rs 2,019.34 crore on 31 March 2024.
- 03With losses, the P/E was negative, and the market value at Rs 76 was Rs 33,521.75 crore.
- 04EV demand depends on government subsidies, and competition from older two-wheeler makers is strong. Borrowing was Rs 2,389.21 crore.
- 05The promoter group held only 45.14% before the issue and 36.78% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Ola Electric Mobility offer document.
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 7,735.41 | 5,573.17 | 5,395.86 |
| Total Income | 5,243.27 | 2,782.70 | 456.26 |
| Profit After Tax | -1,584.40 | -1,472.08 | -784.15 |
| NET Worth | 2,019.34 | 2,356.44 | 3,661.45 |
| Reserves and Surplus | -2,882.54 | -1,380.03 | -68.83 |
| Total Borrowing | 2,389.21 | 1,645.75 | 750.41 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Ola Electric Mobility RHP.
Where the money goes
₹5,275.06 Cr of the issue is earmarked to named objects.
About the company
It makes EVs and core components such as battery packs, motors and frames at the Ola Futurefactory. It is building an EV hub in Tamil Nadu with the Futurefactory, the Ola Gigafactory for cell making and co-located suppliers.
It sells through a direct-to-customer omnichannel network of experience centres and service centres across India. Its promoter is Bhavish Aggarwal.
The IPO was Rs 6,145.56 crore, with Rs 5,500.06 crore of fresh issue and Rs 645.50 crore of offer for sale. Rs 1,227.64 crore was planned for the cell project, Rs 1,600.00 crore for R&D and Rs 800.00 crore for repaying subsidiary debt.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
66 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Kalyan Jewellers India (-15.0%).
Axis Capital
121 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
88 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
Bofa Securities India Limited
23 issues handledBest listing: Tata Technologies (+140.0%). Weakest: LIC (-8.1%).
Goldman Sachs (India) Securities Private Limited
14 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Paytm (-9.3%).
Citigroup Global Markets India Pvt. Ltd
27 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Kalyan Jewellers India (-15.0%).
BOB Capital Markets Ltd
9 issues handledBest listing: P N Gadgil Jewellers (+72.9%). Weakest: Kalyan Jewellers India (-15.0%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Ola Electric Mobility?
The current Grey Market Premium is ₹0.
What is the Ola Electric Mobility IPO price band?
₹72 to ₹76, on a face value of ₹10.
When is the allotment?
The basis of allotment is 7 August 2024, with listing on 9 August 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
