Last updated on December 19th, 2024 at 09:15 pm
Ola Electric Mobility Limited IPO overview! Issue Size, GMP, Issue Price, and All Details to Know
Ola Electric Mobility Limited, incorporated as ‘Ola Electric Mobility Private Limited’ in Bengaluru, Karnataka, is a key player in the electric vehicle industry. The company aims to revolutionize urban mobility by providing sustainable and innovative electric vehicle solutions.
About Ola Electric Mobility Limited
Ola Electric Mobility Limited, originally incorporated as a private limited company, transformed into a public limited company on October 5, 2023. The company operates from its registered office in Koramangala, Bengaluru, and has a corporate office in the same city. Ola Electric is known for its innovative approach towards electric vehicles and aims to enhance urban mobility through its sustainable solutions.
Ola Electric Mobility Limited IPO Details
- Type: Fresh Issue and Offer for Sale
- Fresh Issue: Up to ₹55,000 million
- Offer for Sale: Up to 84,941,997 equity shares
- Face Value: ₹10 each
- Eligibility and Reservations: The offer is made under Regulation 6(2) of the SEBI ICDR Regulations.
GMP of Ola Electric Mobility Limited
| Date | GMP |
|---|---|
| 1-08-2024 | ₹13 |
| 31-07-2024 | ₹16.50 |
| 30-07-2024 | ₹16.50 |
Promoters
- Bhavish Aggarwal
Financial Information
| Particulars | For the year ended 31 March 2024 | For the year ended 31 March 2023 | For the year ended 31 March 2022 |
|---|---|---|---|
| Sale of Finished Products | 46,036.13 | 23,034.11 | 3,176.74 |
| Sale of Traded Goods | 1,059.41 | 1,775.50 | 305.43 |
| Sale of Services | 884.20 | 1,195.15 | 197.76 |
| Total Revenue from Operations | 50,098.31 | 26,309.27 | 3,734.23 |
| Other Income | 2,334.39 | 1,517.70 | 828.37 |
| Total Income | 52,432.70 | 27,826.97 | 4,562.60 |
| Expenses (INR Million) | |||
| Cost of Materials Consumed | 43,909.05 | 25,047.92 | 5,849.34 |
| Purchase of Stock-in-Trade | 697.54 | 1,392.61 | 561.81 |
| Changes in Inventories | (811.35) | (736.44) | (1,602.15) |
| Employee Benefits Expense | 4,388.68 | 4,267.25 | 2,824.80 |
| Other Expenses | 14,590.19 | 8,862.41 | 4,104.32 |
| Total Expenses | 62,774.11 | 38,833.75 | 11,738.12 |
| Loss Before Finance Costs, Depreciation, Amortization, and Tax Expense | (10,341.41) | (11,006.78) | (7,175.52) |
| Finance Costs | 1,865.67 | 1,079.17 | 176.18 |
| Depreciation and Amortization Expenses | 3,576.42 | 1,670.64 | 489.80 |
| Loss Before Exceptional Items and Tax | (15,783.50) | (13,756.59) | (7,841.50) |
| Exceptional Items | 60.50 | 964.20 | – |
| Loss Before Tax | (15,844.00) | (14,720.79) | (7,841.50) |
| Tax Expense | – | – | – |
| Loss for the Year | (15,844.00) | (14,720.79) | (7,841.50) |
| Other Comprehensive (Loss)/Income | (32.09) | 4.56 | 6.69 |
| Total Comprehensive Loss for the Year | (15,876.09) | (14,716.23) | (7,834.81) |
Summary of Financial Information
The financial performance of Ola Electric Mobility Limited indicates a consistent growth trajectory, with substantial revenue increments and a focus on expanding its market presence. The company’s innovative strategies and significant investments have poised it for future success in the electric vehicle sector.
FAQs
What is the issue size of Ola Electric’s IPO?
The issue size includes a fresh issue of up to ₹55,000 million and an offer for sale of up to 84,941,997 equity shares.
Who are the promoters of Ola Electric Mobility Limited?
Bhavish Aggarwal is the promoter of the company.
When is the IPO bidding date?
The IPO bidding date starts on August 2, 2024, and closes on August 6, 2024.
What is the face value of the equity shares?
The face value of the equity shares is ₹10 each.
What is the eligibility criteria for the offer?
The offer is made under Regulation 6(2) of the SEBI ICDR Regulations, 2018, as amended.
