Ola Electric IPO – Price band to risk factors, all you need to know
Aug 1, 2024
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Ola Electric IPO
Bengaluru-based Ola Electric’s initial public offering (IPO) will open on Friday, August 2 and will close on Tuesday, August 6.
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Price band
Ola Electric has fixed a price band of ₹72-₹76 per share for its public issue.
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About the company
Ola Electric is a Bengaluru-based electric two-wheeler maker which sells several electric scooters.
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IPO size
Ola Electric is looking to raise ₹6,145.56 crore from the current IPO. This includes a fresh issue of ₹5,500 crore and an offer for sale (OFS) component of ₹645.56 crore.
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Lot size
Investors can bid for a minimum of 195 shares and in multiples of 195 shares thereafter.
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Current operations
The company, founded in 2017 has over 870 experience centres and 429 service centres. The company currently sells four electric scooters and is expected to soon launch an electric bike.
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Financials
The company’s income was ₹5,243.27 crore in FY24, up from ₹2,782.70 crore in FY23. The company reported a loss of ₹1,584.40 crore in FY24, up from ₹1,472.08 crore loss reported in FY23.
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Risk factors
The company’s sales are subject to adverse reactions to changes in subsidies offered by the government on the sale of electric vehicles. The company has reportedly received a legal notice from MapMyIndia over alleged data theft.
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Objectives of the issue
The funds raised will be used to repay the indebtedness of its subsidiary, invest in R&D, growth initiatives, general corporate purposes and expansion of the capacity of its cell manufacturing plant.
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Disclaimer
The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, and registered advisors for professional and personalised financial advice.
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