{"id":470393,"date":"2024-07-29T14:24:07","date_gmt":"2024-07-29T08:54:07","guid":{"rendered":"https:\/\/inc42.com\/?p=470393"},"modified":"2024-07-29T16:11:43","modified_gmt":"2024-07-29T10:41:43","slug":"ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr","status":"publish","type":"post","link":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/","title":{"rendered":"Ola Electric Sets IPO Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr"},"content":{"rendered":"

EV mobility startup Ola Electric has set a price band in the range of INR 72-76 per equity share for its upcoming initial public offering (IPO), which is opening for bids on Friday (August 2).<\/span><\/p>\n

The startup is expected to raise over INR 6,145.6 Cr at the upper price band.<\/span><\/p>\n

Ola Electric\u2019s public offer comprises a fresh issue of shares worth up to INR 5,500 Cr and an offer-for-sale (OFS) component of up to 8.49 Cr shares worth INR 645.6 Cr. The company\u2019s IPO will close on August 6.\u00a0<\/span><\/p>\n

The anchor bidding is starting on August 1. The bid lot of the IPO is 195 shares and in multiples of the same thereafter.\u00a0<\/span><\/p>\n

Its IPO will have 75% allocation towards qualified institutional buyers (QIBs), 10% towards retail, and 15% towards the non-institutional investor (NII) category.<\/span><\/p>\n

The buzz around Ola Electric\u2019s IPO plans started early last year. In December 2023, the startup filed its IPO draft papers with the SEBI. Initially, the public issue comprised a fresh issue of shares worth INR 5,500 Cr and OFS component of up to 9.51 Cr shares. However, the OFS amount was lowered in its RHP.<\/span><\/p>\n

Kotak Mahindra, Citigroup, BofA Securities, Goldman Sachs, Axis Capital, and ICICI Securities are some of lead the book runners for its IPO.<\/span><\/p>\n

Speaking during the IPO launch announcement, Bhavish Aggarwal, founder and CEO of Ola Electric, said, \u201cWe don’t focus our energies into ICE or other transitionary technologies like hybrid, etc, but our singular focus is to create the EV future and to create the entire business model, manufacturing ecosystem that goes with it.\u201d\u00a0<\/span><\/p>\n

The EV two-wheeler maker currently leads the market in terms of market share. Aggarwal also highlighted that the startup is aggressively working on its electric motorcycles.<\/span><\/p>\n

It is pertinent to note that the startup was also planning to launch its electric car. However, reports emerged recently saying that ahead of its public market debut, the startup has kept its e-car plans on hold.<\/span><\/p>\n

Speaking on this topic on Monday (July 29), Aggarwal said, \u201cWe have not made any formal announcement ever, either this way or that way. Our focus is to build the foundations for the EV ecosystem in India. We made a starting point from a product standpoint with the scooter. We are moving to the motorbike. And our immediate focus is on these two-wheeler products and our focus is to build the cell as a foundation layer for any future product, for any company which wants to buy our cells.\u201d<\/span><\/p>\n

He also reiterated that the company is eyeing exports in the long term.\u00a0<\/span><\/p>\n

While Ola Electric\u2019s IPO is one of the biggest by the Indian startups, the company continues to be a loss-making entity.<\/span><\/p>\n

Its <\/span>net loss widened 7.6% to INR 1,584.4 Cr <\/span><\/a>in the financial year 2023-24 (FY24) from INR 1,472.1 Cr in the previous year. Ola Electric\u2019s operating revenue jumped over 90% to INR 5,009.8 Cr during the year under review from INR 2,630.9 Cr in FY23.<\/span><\/p>\n

Speaking on the profitability aspect, Aggarwal said that the company\u2019s revenue is growing steadily and gross margin also improved in FY24. However, he did not give any timeline for achieving profitability or even EBITDA breakeven.<\/span><\/p>\n

\u201cIf you see manufacturing industries in general, as you grow revenue, you get a lot of operating leverage because your fixed costs don’t scale in line with revenue growth. So, that’s been our story in the last couple of financial years, where as we have grown volumes and we have invested for a higher volume, as we are growing into that capacity, our margins are improving,\u201d said Aggarwal.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

EV mobility startup Ola Electric has set a price band in the range of INR 72-76 per equity share for…<\/p>\n","protected":false},"author":1843,"featured_media":434147,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"title":"Ola Electric Sets IPO Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr","image":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-f1.png","author_url":"https:\/\/inc42.com\/author\/tapanjana-rudra\/","author_name":"Tapanjana Rudra","category":"News","tags":"B2C","twitter":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","facebook":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","linkedin":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","push_notification":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","newsletter_snippets":""},"categories":[15],"tags":[11424],"structure_data":{"company_type":"Late Stage Startup","author_name":"Tapanjana Rudra","parent_category":"News","second_category":null,"development_type":"Startup IPO","post_story_type":"Others","shelf_life":"3 Days","primary_company":"ola-electric","second_company":null,"primary_industry":null,"series":null,"bucket":"","sub_bucket":""},"acf":{"twitter":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","facebook":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","linkedin":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","push_notification":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","newsletter_snippets":"","sentiment__tonality":"Positive"},"yoast_head":"\nOla Electric IPO: Co Sets Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr<\/title>\n<meta name=\"description\" content=\"Ola Electric IPO: Public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of 8.49 Cr shares worth INR 645.6 Cr\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ola Electric Sets IPO Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr\" \/>\n<meta property=\"og:description\" content=\"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr\" \/>\n<meta property=\"og:url\" content=\"https:\/\/inc42.com\/wp-json\/wp\/v2\/posts\/470393\/\" \/>\n<meta property=\"og:site_name\" content=\"Inc42 Media\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/Inc42\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-29T08:54:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-29T10:41:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-social-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tapanjana Rudra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ola Electric Sets IPO Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr\" \/>\n<meta name=\"twitter:description\" content=\"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-social-1.png\" \/>\n<meta name=\"twitter:creator\" content=\"@rudra_tapanjana\" \/>\n<meta name=\"twitter:site\" content=\"@Inc42\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tapanjana Rudra\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Ola Electric IPO: Co Sets Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr","description":"Ola Electric IPO: Public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of 8.49 Cr shares worth INR 645.6 Cr","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/","og_locale":"en_US","og_type":"article","og_title":"Ola Electric Sets IPO Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr","og_description":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","og_url":"https:\/\/inc42.com\/wp-json\/wp\/v2\/posts\/470393\/","og_site_name":"Inc42 Media","article_publisher":"https:\/\/facebook.com\/Inc42","article_published_time":"2024-07-29T08:54:07+00:00","article_modified_time":"2024-07-29T10:41:43+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-social-1.png","type":"image\/png"}],"author":"Tapanjana Rudra","twitter_card":"summary_large_image","twitter_title":"Ola Electric Sets IPO Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr","twitter_description":"Ola Electric\u2019s public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of up to 8.49 Cr shares worth INR 645.6 Cr","twitter_image":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-social-1.png","twitter_creator":"@rudra_tapanjana","twitter_site":"@Inc42","twitter_misc":{"Written by":"Tapanjana Rudra","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/#article","isPartOf":{"@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/"},"author":{"name":"Tapanjana Rudra","@id":"https:\/\/inc42.com\/#\/schema\/person\/b33d977b2d0647fedb03178ea937bcd4"},"headline":"Ola Electric Sets IPO Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr","datePublished":"2024-07-29T08:54:07+00:00","dateModified":"2024-07-29T10:41:43+00:00","mainEntityOfPage":{"@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/"},"wordCount":599,"publisher":{"@id":"https:\/\/inc42.com\/#organization"},"image":{"@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/#primaryimage"},"thumbnailUrl":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-f1.png","keywords":["B2C"],"articleSection":["News"],"inLanguage":"en","copyrightYear":"2024","copyrightHolder":{"@id":"https:\/\/inc42.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/","url":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/","name":"Ola Electric IPO: Co Sets Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr","isPartOf":{"@id":"https:\/\/inc42.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/#primaryimage"},"image":{"@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/#primaryimage"},"thumbnailUrl":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-f1.png","datePublished":"2024-07-29T08:54:07+00:00","dateModified":"2024-07-29T10:41:43+00:00","description":"Ola Electric IPO: Public offer comprises a fresh issue of shares worth INR 5,500 Cr and an OFS component of 8.49 Cr shares worth INR 645.6 Cr","breadcrumb":{"@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/#breadcrumb"},"inLanguage":"en","potentialAction":[{"@type":"ReadAction","target":["https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/"]}]},{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/#primaryimage","url":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-f1.png","contentUrl":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-f1.png","width":1360,"height":1020,"caption":"Ola Electric Sets IPO Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr"},{"@type":"BreadcrumbList","@id":"https:\/\/inc42.com\/buzz\/ola-electric-sets-ipo-price-band-at-inr-72-76-aims-to-raise-over-inr-6145-cr\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/inc42.com\/"},{"@type":"ListItem","position":2,"name":"Ola Electric Sets IPO Price Band At INR 72-76, Aims To Raise Over INR 6,145 Cr"}]},{"@type":"WebSite","@id":"https:\/\/inc42.com\/#website","url":"https:\/\/inc42.com\/","name":"Inc42 Media","description":"India\u2019s #1 Startup Media & Intelligence Platform","publisher":{"@id":"https:\/\/inc42.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/inc42.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en"},{"@type":"Organization","@id":"https:\/\/inc42.com\/#organization","name":"Inc42 Media","url":"https:\/\/inc42.com\/","logo":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/inc42.com\/#\/schema\/logo\/image\/","url":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2017\/03\/inc42-amp-logo.png","contentUrl":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2017\/03\/inc42-amp-logo.png","width":120,"height":36,"caption":"Inc42 Media"},"image":{"@id":"https:\/\/inc42.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/facebook.com\/Inc42","https:\/\/x.com\/Inc42","https:\/\/www.instagram.com\/inc42.media\/","http:\/\/linkedin.com\/company\/inc42","https:\/\/www.youtube.com\/user\/inc42tv"],"description":"Inc42 is India\u2019s #1 startup media & intelligence platform that informs, educates and empowers startup & business leaders through its incisive reporting, insightful reports, curated events & communities, and industry-leading executive courses & programs. Since launching in January 2015, and having risen to become the authoritative voice on India\u2019s startup economy, we've moved markets, gotten the early scoop on billions of dollars of transactions and told you what's happening deep inside some of the fastest growing startups & industries alike. Our stories have been followed by the Wall Street Journal, Bloomberg, Reuters, TechCrunch and other major outlets hundreds of times. We also track over 50,000+ startups and provide market research and intelligence through our in-depth research reports, and we organise some of the most sought-after conferences and events for startup & business leaders across India. In 2020, we introduced Inc42 Plus, our exclusive membership program tailored for startup & business leaders, amassing over 10,000 members in record time. Apart from our sharp reporting & insightful research, through Inc42 BrandLabs, we partner with enterprises & brands to help them create branded content & experiences and reach our audience of decision makers.","legalName":"Ideope Media Private Limited","foundingDate":"2014-11-21","numberOfEmployees":{"@type":"QuantitativeValue","minValue":"51","maxValue":"200"},"publishingPrinciples":"https:\/\/inc42.com\/ethics\/","ownershipFundingInfo":"https:\/\/inc42.com\/ethics\/","correctionsPolicy":"https:\/\/inc42.com\/ethics\/","ethicsPolicy":"https:\/\/inc42.com\/ethics\/"},{"@type":"Person","@id":"https:\/\/inc42.com\/#\/schema\/person\/b33d977b2d0647fedb03178ea937bcd4","name":"Tapanjana Rudra","image":{"@type":"ImageObject","inLanguage":"en","@id":"https:\/\/inc42.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/14434fd820a4cc275bf4c9ad804313a2?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/14434fd820a4cc275bf4c9ad804313a2?s=96&d=mm&r=g","caption":"Tapanjana Rudra"},"description":"Tapanjana Rudra is a journalist by profession and a fitness freak, foodie, and traveller by passion. She is a lover of short stories and the greatest films of all time, all languages.","sameAs":["https:\/\/x.com\/rudra_tapanjana"],"url":"https:\/\/inc42.com\/author\/tapanjana-rudra\/"}]}},"featured_image_link":"https:\/\/inc42.com\/cdn-cgi\/image\/quality=75\/https:\/\/asset.inc42.com\/2023\/12\/OLA-Electric-DRHP-f1.png","post_category":"News","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/posts\/470393"}],"collection":[{"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/users\/1843"}],"replies":[{"embeddable":true,"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/comments?post=470393"}],"version-history":[{"count":3,"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/posts\/470393\/revisions"}],"predecessor-version":[{"id":470423,"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/posts\/470393\/revisions\/470423"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/media\/434147"}],"wp:attachment":[{"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/media?parent=470393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/categories?post=470393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/inc42.com\/wp-json\/wp\/v2\/tags?post=470393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}