Ola Electric IPO Date, Price, GMP, Review: The IPO for Ola Electric is scheduled to begin on August 2. To raise ₹6145.56 crores through an IPO, Ola Electric is a Mainline company. The market lot of 195 shares for the Ola Electric (OLA Cabs) IPO is set at ₹72 to ₹76. Ola Electric is a leading player in the Indian EV market. They are developing manufacturing and technological capabilities that are vertically integrated for EVs and their component parts, such as batteries. The Ola Future plant produces electric vehicles (EVs) as well as some essential EV parts like motors, battery packs, and car frames.
Ola Electric IPO Details
| Open Date | August 2, 2024 |
| Close Dare | August 6, 2024 |
| IPO Size: | Approx ₹6145.56 Crores, 808,626,207 Equity Share |
| Fresh Issue: | Approx ₹5500 Crores, 723,684,210 Equity Share |
| Offer for Sale: | Approx ₹645.56 Crores, 84,941,997 Equity Share |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹72 to ₹76 Per Share |
| IPO Listing on: | BSE & NSE |
| Article Category | IPO |
| IPO Listing Date: | August 9, 2024 |
Is Ola Electric is in profit?
For Q1FY25, the company recorded a 35.1% YoY increase in net profit to ₹202.5 crore, with operations revenue up 22.5% to ₹2,166.8 crore. EBITDA increased by 47.4% to ₹309.2 crore, with a 14.35% margin.
Read Also – Ola Electric Share Price Target From 2024 to 2030
About Ola Electric
OLA Electric Mobility Limited is solely focused on electric vehicles. The Ola Future plant produces EVs as well as key EV components like as battery packs, motors, and vehicle chassis. In FY2023, the company generated the most revenue from E2W sales among all Indian-incorporated electric 2Ws (E2Ws) original equipment manufacturers (“OEMs”). The company’s R&D efforts are carried out in India, the United Kingdom, and the United States, with a focus on the design and development of various EVs and their components. OLA also intends to establish its EV hubs in Krishnagiri and Dharmapuri, Tamil Nadu, India.
