Ola Electric IPO 2024: Date, Review, Price & Allotment Details

About IPO

Here are the details of the Ola Electric IPO converted into bullet points:

- IPO Dates:
- Opening Date: August 2
- Closing Date: August 6

- Fundraising Details:
- Total amount to be raised: ₹6145.56 crores
- Composition:
- Fresh issue: ₹5500 crores
- Offer for sale: Up to 84,941,997 equity shares of ₹10 each

- Quota Allocation:
- Retail investors: 10%
- Qualified Institutional Buyers (QIB): 75%
- High Net-Worth Individuals (HNI): 15%

About Company

Certainly! Here’s the information about Ola Electric converted into bullet points:

- Company Overview:
- Pure EV player in India.
- Builds vertically integrated technology and manufacturing capabilities for EVs and EV components.
- Manufactures EVs and core components (battery packs, motors, vehicle frames) at Ola Futurefactory.
- Focuses on electrification of mobility in India.
- Plans to export EVs to select international markets in the future.

- Product Timeline:
- August 2021: Announced their first EV model.
- December 2021: Commenced delivery of the Ola S1 Pro.
- September 2022: Delivered the Ola S1.
- August 2023: Delivered the Ola S1 Air.
- December 2023: Delivered the Ola S1 X+.
- August 15, 2023: Announced new EV scooter models:
- Ola S1 X (2 kWh)
- Ola S1 X (3 kWh)
- Ola S1 X+
- Announced a line-up of motorcycles:
- Diamondhead
- Adventure
- Roadster
- Cruiser
- Expected Delivery Dates:
- Ola S1 X (2 kWh) and Ola S1 X (3 kWh): First half of Fiscal 2025.
- Motorcycles: First half of Fiscal 2026.

- Market Position and Achievements:
- Highest revenue among Indian electric two-wheeler (E2W) OEMs from E2W sales in Fiscal 2023 (according to Redseer Report).
- Became the best-selling E2W brand in India within nine months of delivering the first EV scooter (December 2021), based on monthly E2W registrations on the VAHAN Portal (according to Redseer Report).

- Business Focus:
- Core focus on research and development (R&D) and technology.
- Emphasis on in-house product innovation.