Ola Electric IPO listed @ Rs. 76

 

 

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What is the business of Ola Electric?

Ola Electric Mobility is a prominent player in India’s electric vehicle (EV) sector, focusing on developing vertically integrated technology and manufacturing capabilities. This includes production of EVs and key components such as battery packs, motors, and vehicle frames at their state-of-the-art facility, Ola Futurefactory. The company aims to capitalize on India’s growing shift towards electric mobility while exploring potential export opportunities in select international markets.

Since announcing its first product in August 2021, Ola Electric has introduced a total of four products and announced plans for six additional models. Deliveries commenced with the Ola S1 Pro in December 2021, followed by 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 unveiled new scooter models, Ola S1 X (2 kWh) and Ola S1 X (3 kWh), alongside a lineup of motorcycles named Diamondhead, Adventure, Roadster, and Cruiser. Future plans include delivering the Ola S1 X models by the first half of Fiscal 2025 and introducing the motorcycles by the first half of Fiscal 2026.

Ola Electric’s proactive approach towards innovation and expansion underscores its commitment to shaping the future of electric mobility both domestically and globally.

The highest revenue among all E2W OEMs

In Fiscal 2023, it achieved the highest revenue among all Indian incorporated electric two-wheeler original equipment manufacturers through E2W sales. Just nine months after delivering its first EV scooter in December 2021, it emerged as the top-selling E2W brand in India based on monthly registrations on the VAHAN Portal. Technology forms the cornerstone of its business model, emphasizing in-house product innovation. The company conducts extensive R&D in India, the United Kingdom (“UK”), and the United States (“US”), focusing on designing and developing new EV products and core components such as battery packs, motors, and vehicle frames. Currently, it is actively establishing its EV hub in Krishnagiri and Dharmapuri districts in Tamil Nadu, India. This hub includes the Ola Futurefactory, set to be complemented by the upcoming Ola Gigafactory and co-located suppliers in Krishnagiri district.

Ola Futurefactory

As of September 30, 2023, Ola Futurefactory stands as India’s largest integrated and automated E2W manufacturing plant operated by an E2W-only OEM. The facility manufactures its EV scooters using in-house EV components and procures other necessary components, such as cells, from third-party suppliers. Furthermore, Ola Electric operates its own direct-to-customer (“D2C”) omnichannel distribution network. This network includes 935 experience centres and 414 service centres across India as of October 31, 2023. Notably, 410 of these service centres are conveniently located within experience centres. This expansive network of experience centres represents the largest company-owned network of its kind in India as of September 30, 2023.

For more information, click www.olaelectric.com

Ola Electric IPO GMP grey market premium, review, Subscription, allotment, listing estimate

Ola Electric IPO Review

Ola Electric Mobility is a prominent player in India’s electric vehicle (EV) sector, focusing on developing vertically integrated technology and manufacturing capabilities. This includes production of EVs and key components such as battery packs, motors, and vehicle frames at their state-of-the-art facility, Ola Futurefactory.
As of September 30, 2023, Ola Futurefactory stands as India’s largest integrated and automated E2W manufacturing plant operated by an E2W-only OEM. The facility manufactures its EV scooters using in-house EV components and procures other necessary components, such as cells, from third-party suppliers. Furthermore, Ola Electric operates its own direct-to-customer (“D2C”) omnichannel distribution network. This network includes 935 experience centres and 414 service centres across India as of October 31, 2023. Notably, 410 of these service centres are conveniently located within experience centres. This expansive network of experience centres represents the largest company-owned network of its kind in India as of September 30, 2023 and this has been achieved in shortest time span of 3 years. 
The company has incurred losses during last 3 years, may be due to huge promotions on brand promotions and expansion of distribution-network.  Losses on one side have been increasing whereas the topline also reflect success of huge efforts put-up by Mr. Bhavesh and his team. 

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Ola Electric IPO GMP grey market premium, review, Subscription, allotment, listing estimate