Ola Electric Mobility Limited IPO

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What does Ola Electric do?

Incorporated in 2017, Ola Electric is a Bengaluru-based electric two-wheeler manufacturer. It was a wholly-owned subsidiary of ANI Technologies, the parent entity of Ola Cabs previously. In 2018-19, Ola Electric was spun off as a separate entity.

Its current product portfolio includes an e-scooter named Ola S1 in four variants – Ola S1 Air, Ola S1X, Ola S1, and S1 Pro.

Going forward, the company aims to manufacture electric cars and is also planning to build a capacity of 1GW of battery power delivering grid services. Ola Electric’s manufacturing facility at Krishnagiri, Tamil Nadu is India’s largest two-wheeler EV manufacturing factory. As of October 31, 2023, They operate their own direct-to-customer (D2C) omnichannel distribution network comprising 935 experience centers and 414 service centers (of which 410 service centers are located within experience centers) across India.

As per Redseer report, they had the highest revenue of all Indian incorporated electric 2-wheelers (E2Ws) original equipment manufacturers (OEMs) in FY23. The company will compete against legacy auto manufacturers like Heromotocorp, Bajaj Auto, and TVS Motors and also against new startups like Ather Energy, and Hero Electric.

What is the issue size of the Ola Electric IPO?

The company is issuing fresh equity worth Rs 5,500 crore and an offer for sale of 9.52 crore shares from existing shareholders.

Financials of Ola Electric Mobility Limited (₹ crores)

Financial Year Total Assets Total Revenue Profit/(Loss) After Tax EBITDA EPS
March 31, 2021 2112.64 106.08 (199.23) (178.82) (0.59)
March 31, 2022 5395.86 456.26 (784.15) (717.55) (2.23)
March 31, 2023 5573.17 2782.7 (1472.08) (1197.1) (3.91)

How to apply to the Ola Electric Mobility Limited IPO?

You can apply for the Ola Electric Mobility Limited IPO using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept the UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

How to check the allotment status for Ola Electric Mobility Limited IPO?

You can check the allotment status for the Ola Electric Mobility Limited IPO on the website of the Registrar and Transfer agent. Alternatively, you can also check the allotment status on the NSE website.