The electric vehicle (EV) market is dominated by OLA Electric. Through its upcoming Initial Public Offering (IPO), the company intends to expand its operations, enhance its product line, and strengthen its competitive edge. In this article, you’ll learn about OLA Electric, its financials, the IPO details, and how the HDFC Sky Trading App can help you participate as a potential investor.
About OLA Electric
Established in 2017, OLA Electric operates as the electric vehicle division of ANI Technologies, the parent organisation behind OLA Cabs. The company’s goal is to make sustainable mobility options both accessible and affordable for everyone. Recently, OLA Electric has experienced remarkable growth; for the fiscal year 2023-2024, it reported revenues of ₹5243.27 crore—a significant rise from ₹2,782.70 crore in the prior year. This increase can be credited to strong sales of its electric scooters and a growing charging network throughout India.
Financial Information on OLA Electric
Here’s the restated consolidated data on the company’s assets, net worth and profits in Crores:
| Period Ending | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets (Total Equity & Liability) | 7,735.41 | 5,573.17 | 5,395.86 | 2,112.64 |
| Total Income (Revenue from Operations & Other Income) | 5,243.27 | 2,782.70 | 456.26 | 106.08 |
| Net Worth (Total Equity) | 2,019.34 | 2,356.44 | 3,661.45 | 1,970.62 |
| Profit After Tax | -1,584.40 | -1,472.08 | -784.15 | -199.23 |
Market Position and Products
OLA Electric’s flagship product, the OLA S1 scooter, has been a significant contributor to its revenue. To support its growing customer base, the company is also developing a robust network of charging stations. As of 2023, OLA Electric plans to have over 10,000 charging points across India to ensure convenience for electric vehicles.
Details of the OLA Electric IPO
The OLA Electric IPO aims to raise approximately ₹6,000 Crore, which will be utilised for various purposes, including expanding manufacturing capabilities, enhancing research and development, and strengthening the company’s charging infrastructure.
Key Highlights of the IPO
- IPO Size: Aggregating up to ₹6,145.56 Crore
- IPO Date: 2nd August 2024 to 6th August 2024.
- Face Value: ₹10 per share.
- Offer for Sale (OFS): 84,941,997 shares of ₹10 (aggregating up to ₹645.56 Crore.)
- Fresh Issue: Aggregating up to ₹5,500.00 Crore
- Price Band: The price band for the IPO is expected to be in the range of ₹72-₹76 per share.
- Lot Size: Investors can bid for a minimum of 195 shares and in multiples thereof.
- Listing: The shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
How to Invest in the OLA Electric IPO Through HDFC Sky
At HDFC Sky, your convenience and security are our top priorities. Our One-Click IPO feature makes investing in IPOs simple and hassle-free. Here is how you can invest:
- Open an HDFC Sky Account: Sign up quickly and easily online and log in to HDFC Sky.
- Apply for the IPO: Find the OLA Electric IPO, and select it.
- Place Your Bid: Enter the desired shares and price, or choose the cut-off price.
- Invest with One Click: Use your UPI ID to block the funds.
- Confirm and Submit: Review and submit your application; funds will be blocked.
If allotted, shares will be credited to your Demat account and listed on BSE and NSE for trading.
Book Your OLA Electric IPO Through HDFC Sky
In the growing electric vehicle sector, the OLA Electric IPO presents an excellent investment opportunity. With its innovative products, strong market presence, and ambitious expansion plans, OLA Electric is well-positioned to capitalize on the growing demand for sustainable transportation solutions. Through HDFC Sky, you can participate in OLA Electric’s exciting IPO effortlessly and potentially benefit from its future growth, just as you can with your SIP investments.
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