January 1, 2024
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Ola Electric IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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What is the latest news relating to Ola Electric IPO?
Grey market is expected to have good fancy for the IPO.
What 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 pure EV player in India and are building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. It manufactures EVs and certain core EV components like battery packs, motors and vehicle frames at the Ola Futurefactory. Its business focuses on capturing the opportunity arising out of electrification of mobility in India and it also seeks opportunities to export its EVs in select international markets in the future. It has delivered four
products and additionally announced six new products since its first product announcement in August 2021. It commenced delivery of our first EV model, the Ola S1 Pro, in December 2021. This was followed by the delivery 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, it announced other new EV scooter models, the Ola S1 X (2 kWh) and the Ola S1 X (3 kWh), in addition to the Ola S1 X+, as well as a line-up of motorcycles comprising four models, Diamondhead, Adventure, Roadster and Cruiser.
It plans to commence delivery of the Ola S1 X (2 kWh) and the Ola S1 X (3 kWh) by the first half of Fiscal 2025 and the motorcycles in the first half of Fiscal 2026.
It had the highest revenue of all Indian incorporated electric 2Ws original equipment manufacturers from E2W sales in Fiscal 2023. Within nine months of delivering its first EV scooter in December 2021, it became the best-selling E2W brand in India in terms of monthly E2W registrations on the VAHAN Portal and technology is at the core of its business model with a focus on in-house product innovation. It undertake R&D activities in India, the United Kingdom (“UK”) and the United States (“US”) focused on designing and developing new EV products and core EV components, such as battery packs, motors and vehicle frames. It is in the process of building its EV hub in Krishnagiri and Dharmapuri districts in Tamil Nadu, India, which includes its Ola Futurefactory,its upcoming Ola Gigafactory and co-located suppliers in Krishnagiri district.
At its Ola Futurefactory, it manufacture its EV scooters using certain EV components manufactured in-house and other components procured from third parties, such as cells. The Ola Futurefactory is the largest integrated and automated E2W manufacturing plant in India by an E2W-only OEM, as of September 30, 2023.
It operates its own direct-to-customer (“D2C”) omnichannel distribution network comprising 935 experience centres and 414 service centres (of which 410 service centres are located within experience centres) situated across India, as of October 31, 2023, in addition to its Ola Electric website. Its network of experience centres was India’s largest company-owned network of experience centres as of September 30, 2023.
For more information, click www.olaelectric.com
Ola Electric IPO GMP, Particulars & Guidance
| Ola Electric IPO Details | |
| IPO opens on | ?, 2024 |
| IPO closes on | ?, 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | ? Sh /Rs ? Cr |
| * Fresh Issue | ? Sh /Rs 5500 Cr |
| * Offer for Sale | 95,191,195 Sh /Rs – Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. ? |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | ? Shares |
| Listing will at | BSE, NSE |
| Shares offered in Ola Electric? | Shares | Rs. in Cr |
| QIB (50 %) | ? | ? |
| NII (15 %) | ? | ? |
| RII (35 %) | ? | ? |
| Tata Motors Shareholders | – | – |
| Total Shares | ? | ? |
| Retail portion will be oversubscribed by | ? Forms. | |
| How to apply in Ola Electric IPO ? | Amount Rs. | |
| Min Retail Application | – Sh | – |
| Max Retail Application | – Sh | – |
| Small HNI (Min) application | – Sh | – |
| Small HNI (Max) application | – Sh | – |
| Big HNI Application | – Sh | – |
| What is the timetable of Ola Electric IPO? | |
| IPO opens on | 2024 |
| IPO Closes on | 2024 |
| IPO Allotment on | 2024 |
| Unblocking of ASBA | 2024 |
| Credit of Shares | 2024 |
| Listing on | 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 Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 106 | -199 | -0.59 | -10 |
| 2021-22 | 456 | -784 | -2.23 | -21 |
| 2022-23 | 2783 | -1472 | -3.91 | -62 |
| Book Value of the Share on 31.03.2023 | Rs. | 6.26 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | ? | ||
| Ola Electric IPO Ratio Analysis |
|
| Price /EPS | ? |
| Price/Book Value Ratio | ? |
| 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 DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
# 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 Guidance
This is the much-awaited IPO. Once the price band is finalized, we will provide our guidance.
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