OLA Electric is set to launch a book-built IPO valued at Rs 6,145.56 crores. This issue consists of a fresh issue of 72.37 crore shares totaling Rs 5,500.00 crores and an offer for sale of 8.49 crore shares amounting to Rs 645.56 crores.
The OLA Electric IPO will be open for subscription from August 2, 2024, to August 6, 2024. The allotment is expected to be finalized on Wednesday, August 7, 2024, with the IPO listing on the BSE and NSE tentatively set for Friday, August 9, 2024.
Ola Electric Mobility, based in Bengaluru, Karnataka, India, operates in the electric two-wheeler manufacturing sector. As of September 2023, it was valued at around US$5.4 billion. Ola Electric’s manufacturing facility in Krishnagiri, Tamil Nadu, is India’s largest two-wheeler EV manufacturing factory.
The price band for the OLA Electric IPO is between ₹72 and ₹76 per share. Investors need to apply for a minimum lot size of 195 shares, with retail investors required to invest at least ₹14,820. Small Non-Institutional Investors (sNII) must invest in a minimum of 14 lots (2,730 shares), totaling ₹207,480, while large Non-Institutional Investors (bNII) need to invest in a minimum of 68 lots (13,260 shares), amounting to ₹1,007,760.
The book running lead managers for the OLA Electric IPO include Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, Axis Capital Limited, SBI Capital Markets Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited, and Bob Capital Markets Limited. Link Intime India Private Ltd is the registrar for the issue.
OLA Electric IPO Details:
| Company Name | OLA Electric Mobility Limited |
| Sector | Two-wheeler Manufacturing |
| IPO Type | Mainboard |
| IPO Open date | 02 Aug 2024 |
| IPO Close date | 06h Aug 2024 |
| OFS | |
| Listing Exchanges | NSE, BSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
OLA Electric IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 195 | 14,820 |
| sHNI (Min) | 14 | 2730 | 2,07,480 |
| bHNI (Min) | 68 | 13260 | 10,07,760 |
OLA Electric IPO Timeline:
| IPO Open Date | 02nd Aug 2024 |
| IPO Close Date | 06th Aug 2024 |
| Basis of Allotment | 07th Aug 2024 |
| Refund Initiation Date | 08th Aug 2024 |
| Shares Credit to Demat | 08th Aug 2024 |
| Listing Date | 09th Aug 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review OLA Electric’s financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Two-wheeler Manufacturing Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in OLA Electric and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
