IPO Date

Listing Date
Face Value
Price Band
Lot Size
Total Issue Size
Fresh Issue
Offer for Sale
Employee Discount
Issue Type
Listing At
August 2, 2024 to August 6, 2024
August 9, 2024.
₹10 per share
₹72 to ₹76 per share
195 Shares
₹6,145.56 Cr
₹5,500.00 Cr
₹645.56 Cr
Rs 7 per share
Book Built Issue IPO
BSE, NSE
2024
Particulars 2024 2023 2022 2021
Revenue from
Operations (in ₹ 5,243.27 2630.927 373.423 0.864
crore)
Loss for the
period/ year (in ₹ -1,584.40 -1472.079 -784.15 -199.232
crore)
Cash & Cash
Equivalents (in ₹ 67.884 1235.001 356.953
crore)
Net Worth (in ₹
2,019.34 2356.444 3661.452 1970.615
crore)
Return on Net
-6.247 -2.142 -1.011
Worth (%)
Net Asset Value
per Equity Share 0.626 1.043 0.583
(in ₹)
Total borrowings
2,389.21 1645.753 750.407 38.872
(in ₹ crore)
Total assets (in
7,735.41 5573.169 5395.863 2112.64
₹ crore)
Earning Per
Share (EPS)-in -3.91 -2.23 -0.59
absolute ₹

Loss for the period/ year (in ₹ crore)

2024 2023

-199.2

-784.15

-1472.079
-1,584.40
 Revenue from Operations (in ₹ Crore)
5,243.27

2630.927

373.423
0.864
2024 2023 2022 2021
Total borrowings (in ₹ Cr

e period/ year (in ₹ crore)

2022 2021

2024 2023 2022

-199.232

-784.15

2.079
 Total borrowings (in ₹ Crore)

2024 2023 2022 2021

 EPS EPS NAV (per
Company Name
(Basic) (Diluted) share) (Rs)

Ola Electric Mobility

-4.35 -4.35 5.54
Limited
Tvs Motor Company Ltd. 35.5 35.5 158.1
Eicher Motors Ltd. 146.18 145.92 659.06
Bajaj Auto Ltd. 272.7 272.7 1,037.41
Hero Motocorp Ltd. 187.36 187.04 892.08
 RoNW P/BV Financial
P/E (x)
(%) Ratio statements

-78.46 Consolidated

69.69 23.68 15.49 Consolidated

36.78 22.17 7.44 Consolidated
29.95 26.61 9.38 Consolidated
27.16 20.98 6.06 Consolidated
Ola Electric is an Indian electric vehicle manufacturer founded by Bhavish Aggarwal in 2017 as a subsidiary of Ola Cabs,

2017: Foundation

Inception: Ola Electric Mobility Pvt Ltd was established as a wholly-owned subsidiary of Ani Technologies Private Limi
Initial Focus: The initial aim was to reduce the carbon footprint and develop charging infrastructure for electric vehicles

2018-2019: Early Developments

Partnerships and Investments: Ola Electric received significant investment from SoftBank Investment Advisers, which
Mission: Electric: Ola Electric launched the "Mission: Electric" initiative, committing to putting 1 million electric vehic

2020: Expansion and Manufacturing

Acquisition of Etergo: In May 2020, Ola Electric acquired Amsterdam-based electric scooter manufacturer Etergo, kno
Manufacturing Facility: The company announced plans to build a massive manufacturing facility in Tamil Nadu, India

2021: Launch of Ola S1 and S1 Pro

Ola S1 and S1 Pro: In August 2021, Ola Electric launched its first electric scooters, the Ola S1 and S1 Pro. These scooters
Pre-orders and Sales: The scooters received a positive market response, with large numbers of pre-orders. Ola Electric

2022: Expansion and Challenges

Production and Delivery: Ola Electric ramped up its production and began delivering the S1 and S1 Pro scooters to cust
Hypercharger Network: Ola Electric continued to expand its charging infrastructure, with plans to build one of the larg

2023: Growth and Future Plans

New Models and Updates: Ola Electric announced plans to introduce new models and updates to its existing scooters
Future of motorcycling: Ola Electric motorcycle deliveries to commence in early 2026
Global Expansion: The company also hinted at potential plans to expand its market beyond India, targeting internation

Strategic Vision

Ola Electric aims to be a key player in the global transition to sustainable mobility, focusing on innovation, scale, and acces

Key Milestones

Funding: Ola Electric has raised significant capital from investors like SoftBank, Tiger Global, and Matrix Partners, unde
Manufacturing: The Future factory in Tamil Nadu is one of the largest EV manufacturing facilities, with a strong empha

IPO Detail- OLA electric

The market capitalization of OLA Electric IPO is Rs 33521.75 Cr.

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IPO Detail

Ola Electric IPO Objectives:

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. Gigafactory Expansion: Utilise ₹1,265 crore for capital expenditure to expand the cell manufacturing plant from 5 GW
2. Debt Repayment: Allocate ₹8,00 crore for repaying or pre-paying the indebtedness of the subsidiary, OET.
3. R&D Investment: Invest ₹1,600 crore into research and development to drive innovation and enhance product offerin
4. Business Growth: Utilise ₹3,50 crore for initiatives aimed at organic growth to strengthen market position.
5. General Purposes: Allocate remaining funds for general corporate purposes to support overall business operations and

Sales and Financial Performance

Sales Growth: Ola Electric has been on a roll since launching their first electric scooter in 2021. They sold a whopping 1.5

Market Share: Ola Electric is not just participating, they're dominating! With over 30% market share in India's electric two

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The financial performance

On the whole, their financial performance appears to be trending in the right direction along all the key metrics for Q1 ‘24 w

Gross margins improved to 13% from 5% in FY23

R&D expenses came down to 7% from 18%
Other expenses came down to 21% from 29%
EBITDA improved to -14% from -43%

OLA Electric IPO Peer Comparison

Ola Electric Mobility Limited peer comparison with similar listed entities. (As on March 31, 2024)

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Challenges and Risks for Ola Electric

1. Safety Concerns: Some Ola Electric scooters have caught fire, hurting the brand's image and drawing regulatory attent
2. Regulatory Challenges: Problems with FAME subsidies have impacted Ola's pricing and competitiveness.
3. Subsidy Reduction Impact: Cuts in FAME subsidies increased the prices of Ola's models, leading to fewer orders and
4. Consumer Disputes: The company faces issues with non-delivery and vehicle defects, which affects customer trust an
5. Talent Retention: High attrition rates show difficulties in keeping skilled workers, which is crucial for innovation and

Ola Electric continues to be a major player in the electric vehicle market, driven by its mission to accelerate the world’s tran

Corporate

1. Integration Capabilities: Ola Electric owns and integrates technological components, ensuring better product control
2. Vertical Integration: Allows for higher efficiency in operations and leaner cost structures.
3. Localized Supply Chain: Significant potential for indigenizing various components to reduce costs and improve produ
4. Manufacturing Cloud: Integrates production management and quality systems to optimize inventory and reduce costs

Future Prospects

1. Expansion Plans: Strong vision for expanding EV production and market reach.
 2. Innovation: Commitment to continuously improving electronic configurations and motor designs.
3. Sustainability: EVs aid in reducing carbon emissions and aligning with India's net-zero emissions goal by 2070.
4. Market Positioning: Well-positioned to take advantage of the growing demand for EVs in India and globally.

source: Various Report, RHP of OLA Electric, Chittorgarh, Mint News, Etc.
 a subsidiary of Ola Cabs, one of India's largest ride-hailing companies. Here's a brief history of Ola Electric:

Technologies Private Limited(Ola Cabs.Com), the parent company of Ola Cabs.

ructure for electric vehicles (EVs) in India

nvestment Advisers, which was also a major investor in Ola Cabs. The company aimed to deploy electric vehicles and charging solu
tting 1 million electric vehicles on the road by 2021.

manufacturer Etergo, known for its AppScooter. This acquisition marked Ola Electric’s entry into the two-wheeler EV segment.
cility in Tamil Nadu, India, aiming to produce millions of electric scooters annually.

and S1 Pro. These scooters received significant attention due to their competitive pricing, advanced features, and long range.
of pre-orders. Ola Electric clock bookings worth Rs 1,100 crore in first two days of online purchase

and S1 Pro scooters to customers. The company faced challenges related to supply chain and production delays, which it worked to ad
lans to build one of the largest and densest EV charging networks in the world.

tes to its existing scooters, focusing on improving performance and user experience.

ndia, targeting international markets.

innovation, scale, and accessibility. The company’s strategic vision includes expanding its product lineup to include electric motorcycle

l, and Matrix Partners, underscoring investor confidence in the company’s vision.

ilities, with a strong emphasis on automation and sustainability.
nufacturing plant from 5 GWh to 6.4 GWh.
subsidiary, OET.
nd enhance product offerings.
market position.
rall business operations and flexibility.

. They sold a whopping 1.56 lakh scooters in FY2023! And get this – their revenue from operations hit Rs 1,242.7 crore in just the first

share in India's electric two-wheeler segment, they've become a major player in the industry.
 he key metrics for Q1 ‘24 when compared to FY23:

nd drawing regulatory attention.

ompetitiveness.
leading to fewer orders and showing their reliance on government policies.
ch affects customer trust and brand reputation.
s crucial for innovation and growth in the EV industry.

o accelerate the world’s transition to sustainable energy.

ring better product control and flexibility.

uce costs and improve product quality.

inventory and reduce costs.
issions goal by 2070.
India and globally.
vehicles and charging solutions at scale.

-wheeler EV segment.

s, and long range.

elays, which it worked to address.

include electric motorcycles, cars, and other forms of electric transportation.

,242.7 crore in just the first three months of FY2024. Talk about impressive growth!
 Ola Electric Hero MotoCorp Eicher Motor TVS Motor Bajaj Auto
CMP 76 5424 4962 2485 9558
Sales 5010 37789 16536 39145 46491
EBITDA -1268 5235 4327 5500 9200
Net Profit -1578 3742 4001 1779 10420
Market Ca 33522 108450 135971 118040 266830
Enterprise 28748 107857 136114 140968 267728
EBITDA M 0 13.9 26.2 14.1 19.8