Explore and learn about Ola Electric IPO India, GMP, Price, Date, Lot Size, Buy or Not and much more at PrimeNewsly.
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Ola has emerged as the largest mobility platform and it is the top-selling electric scooter brand in India. This company commenced its services as a ridesharing company in 2010. It quickly spread across the country and became a reliable platform for booking affordable cabs. The company’s founder Bhavish Agrawal decided to enter the electric two-wheeler market and became a leader there.
Now, the Bangalore-based electric two-wheeler manufacturer is ready to launch its IPO. It will be the first Indian automaker to launch an IPO in the past two decades. Continue reading to learn everything about the upcoming Ola Electric IPO and whether it is good or bad.
Being the first Indian automaker to bring an IPO in more than two decades, the Ola IPO will be one of India’s top 15 IPOs. The electric two-wheeler maker is all set to file its Draft Red Herring Prospectus (DRHP) to the SEBI (Securities and Exchange Board of India) by 20th December.
The company aims to secure $700 million through its IPO. It will be the first pure EV manufacturing firm to be listed on a stock exchange. Ola will provide fresh equity and the money gained through the IPO will be used to speed up the development of the company’s electric two-wheeler manufacturing unit.
The information regarding the Ola electric IPO GMP is currently not available, but it will surface soon. According to several reports, the E-scooter manufacturer is planning to list at a $7-8 billion valuation at the beginning of 2024. It will use raised funds to expand the EV business and boost the manufacturing of lithium-ion cells.
The company has reduced its sales goals for 2023-25. It has delayed the target of gaining profits by one year. Those things happened when the government reduced subsidies on e-scooters and it pushed prices up.
Ola aims to sell 300,000 electric scooters in the current fiscal year. The company’s original sales target was 882,000, but it was reduced by two-thirds. The Ola Electric IPO lot Size is yet to be announced, but it will be around $1 billion or 8,500 crore rupees. The company may file its draft prospectus this month.
As per available information, Ola Electric IPO bankers include:
The EV manufacturing firm has already raised $5.4 billion from investors, such as SoftBank and Temasek. This company has also gained 3,200 crore rupees in funding from the State Bank of India and Temasek-led investors. Its IPO bankers will provide underwriting services for newly issued company stocks.
The Ola electric IPO date NSE is currently not available. As mentioned earlier, the company may file its DRHP to the SEBI by December 20 this year. The company may launch its IPO in early 2024. It might be the most popular initial public offering of 2024 and draw many investors from India.
Commonly known as the Red Herring Prospectus, the IPO prospectus is a document SEBI requires before the proposing company goes public. This document contains details regarding the company’s financial condition, business, and risk factors.
The Ola Electric IPO prospectus is currently not available because the company is planning to file it soon in December 2023. The company however reported a six-fold growth in its revenue year on year. The company’s revenue was 456 crore rupees in FY 2021-22 and it grew to 2,782 rupees in FY 2022-23.
The company’s losses have doubled in FY 2023 to 1,472 crore rupees. The IPO-bound company itself reported losses this month and investors will assess all those financial details before investing in this EV manufacturer.
Many investors and traders wish to reveal whether Ola Electric IPO buy or not. Consider the following factors to make a well-informed decision.
Good
Bad
The company reported losses, which occurred due to reduced government subsidies on e-scooters. Besides, there were many reports regarding issues with Ola scooters. Investors should consider those past events and the company’s losses when assessing Ola Electric IPO good or bad.
The company is not listed on the stock exchange, but the face value of Ola Electric shares is Rs. 10. Our research reveals the Ola Electric pre IPO price can be Rs. 101 per share. Since the IPO price band has not been disclosed yet, more information will be available soon.
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A: The Ola electric scooter IPO date is yet to be announced, but it should be in the first quarter of 2024.
A: Temasek, SoftBank, and State Bank of India are the major investors in Ola Electric.
A: Ani Technologies owns the Ola Electric Company.
A: The Indian electric scooter manufacturer’s current production output is 200,000, which will grow rapidly after the launch of its IPO.
A: Ola Electric IPO’s expected size is $1 billion (8,500 crore rupees).
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Conclusion
Ola Electric is all set to be the country’s latest automaker to launch its IPO in more than 20 years. Will it succeed in drawing investors and meeting its IPO goals? More analysis based on Ola Electric IPO GMP and prospectus will be available soon.
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