OLA Electric was established as one of the leaders in the EV space. It would use its fund-raising toward expansion, new product lines, and building scale that would be required in the bidding process for winning orders over the competition with regard to EVs.
From the time of its inception, one of the major revenue drivers for the Company has always been its star product: the OLA S1 scooter. This is hard work on the Company’s part in building up a strong network of charging stations for customers. More than 10,000 charging points by OLA Electric are slated to be in place across India by 2023, with facility reaching an EV easily.
According to sources, this mobilisation is likely to be around ₹6,000 Cr. These funds would majorly be used for increasing manufacturing capability, Research and Development processes, and building the Company’s charging infrastructure.
Key Highlights of the IPO
IPO Size: Aggregating to ₹6,145.56 Crores
IPO Date: 2nd August 2024, to 6th August 2024.
Face Value: ₹10 per equity share
Offer for sale: The offering includes 84,941,997 equity shares of ₹10 aggregating to ₹645.56 Cr
Fresh issue aggregate: Upto ₹5,500
The IPO price band would be ₹72 to ₹76 per share.
Lot size: Investors can bid for a minimum of 195 equity shares and in multiples thereof.
Listing: The shares would be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).
OLA Electric IPO is one of the brilliant opportunities to take participation in the fast-growing EV market. With innovative products, strong market presence, and very aggressive growth plans, this company is going to support the growing demand for sustainable transport even better.
