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    Ola Electric IPO listed @ Rs. 76

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    What is the latest news about Ola Electric IPO? 

     

    On 9th August 2024, the scrip is listed at Rs. 75.99.

    What is the latest GMP of Ola Electric IPO?

    Ola Electric IPO GMP

    Ola Electric IPO GMP GMP    
    0    
    Day 2, Sub 0.38x Rs.6146 Cr.   Appli Sub2
    Price Rs 72-76
    Lot    195
    Retail Applications Close 500
    Open 2.08.2024
    Close 6.08.2024 
    Small HNIs closed closed
    Al       7.08.2024
    List:    9.08.2024 
    Big HNIS 4200 closed
    LM: 

    What is the Ola Electric IPO Subscription status?

    Ola Electric IPO Subscriptions (Closed)

    Price Rs. 76 Lot 195 shares, Rs. 3535.21 Crore

    QIB B HNI X S HNI X NII X RII X Total X
    5.53 2.75 2.03 2.51 4.05 4.45
    Applications: 13,47,824/ (3.25x)
    Amount wise Bids recd. Rs. 15731.68 Crore

    Who is the promoter of Ola Electric IPO?   

    BHAVISH AGGARWAL is the promoter of the Ola Electric Mobility IPO.

    What are the Objects of Ola Electric IPO?

    The Offer comprises the Fresh Issue and the Offer for Sale.
    The company proposes to utilise the Net Proceeds towards funding the following objects:
    1. Capital expenditure to be incurred by its Subsidiary, OCT for expansion of the capacity of our cell manufacturing plant from 5 GWh to 6.4 GWh, classified as phase 2 under the expansion plan
    2. Repayment or pre-payment, in full or part, of the indebtedness incurred by its Subsidiary, OET;
    3. Investment into research and product development;
    4. Expenditure to be incurred for organic growth initiatives; and
    5. General corporate purposes

    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 Details 

    IPO opens on  2 August 2024 
    IPO closes on  6 August 2024 
    Issue Type Book Built Issue IPO
    Issue Size 808626207 Shares /
    Rs 6145.56 Crore
    * Fresh Issue ? Shares /Rs 5500 Crore
    * Offer for Sale  84941997 Shares /
    Rs 645.56 Crore
       
    Face Value per share: Rs. 10
    Price Band  Rs. 72-76
    Retail Discount  Rs 0 per share
    Employee discount  Rs. 7 per share
    Retail Lot Size  195 Shares
    Listing will at  BSE, NSE
    Shares offered in Ola Electric? Shares Rs. in Cr
    QIB (75 %)  ? 4605.05
    NII (15 %)  ?   921.01
    RII (10 %)  ?   614.00
    Employees        5.50
    Total Shares  ? 6145.56
    Retail portion will be oversubscribed by  ? Forms.
    How to apply in Ola Electric IPO ? Amount
    Rs.
    Min Retail Application 195 Shares     14820
    Max Retail Application  2535 Shares   192660
    Small HNI (Min) application  2730 Shares   207480
    Small HNI (Max) application 13065 Shares   992940
    Big HNI Application 13260 Shares 1007760

    What is the timetable of Ola Electric IPO?

    IPO opens on 2 August 2024
    IPO Closes on 6 August 2024
    IPO Allotment on  7 August 2024
    Unblocking of ASBA  8 August 2024
    Credit of Shares 8 August 2024
    Listing on 9 August 2024
    Registered Office of Ola Electric
    Regent Insignia, #414, 3rd Floor, 4th Block, 17th Main, 100 Feet Road, Koramangala, Bengaluru 560 034, Karnataka, India
    Who are the Lead Managers of Ola Electric IPO?
    Kotak Mahindra Capital Company
    Citigroup Global Markets India Pvt ltd
    BofA Securities India Limited
    Goldman Sachs (India) Securities
    Axis Capital Ltd
    ICICI Securities Ltd
    SBI Capital Markets Ltd
    BOB Capital Markets Limited
    Registrar to IPO
    Link Intime India Private Limited

    Ola Electric IPO Financial & Analytical Ratios

    Year Total Income Net Profit EPS RoNW
      Rs. in
    Crore
    Rs.in
    Crore
    Rs. %
    2021-22   456 -784 -2.23 -21.42
    2022-23 2783 -1472 -3.91 -62.47
    2023-24 5243 -1584 -4.35 -78.46
    Book Value of the
    Share on 31.03.2024
    Rs. 5.54    
    BV of the Share
    after the FPO
    Rs. ?    
    Offer Price at Cap Rs.  76    

    Ola Electric IPO
    Ratio Analysis

    Price /EPS N.A.
    Price/Book Value Ratio 13.72
    Price/BV after IPO  ?

    How Ola Electric IPO compares with the Peers?

    Peer Comparison.
    The company considers 4 automobile companies as its peer group companies, which derive their revenue primarily from ICE-based two-wheelers, and hence they are not completely comparable with this pure EV company given the fundamental difference in the business and its product range.

    As on date of RHP FV Total  PE
      Rs. Income Ratio
        Rs. In Cr of
    Ola Electric 10 5009 N.A.
    TVS Motor 1 39145 68.29
    Eicher Motors 1 16536 33.58
    Bajaj Auto 10 44870 34.02
    Hero MotoCorp 2 37789 28.89
           
           
           

    # This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

    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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