What you should know about the OLA Electric IPO

By investing through HDFC Sky, you can smoothly engage in this exciting IPO and potentially benefit from OLA Electric's future growth.

OLA Electric is a leading player in the electric vehicle (EV) market. With its forthcoming Initial Public Offering (IPO), the company plans to expand its operations, enhance its product range, and strengthen its position in the competitive EV sector. This article provides details on OLA Electric, its financials, the specifics of its IPO, and how you can participate as a potential investor using HDFC Sky, the best trading app.

About OLA Electric

OLA Electric, founded in 2017, is the EV arm of ANI Technologies, the parent company of OLA Cabs. The company's mission is to ensure that clean mobility solutions are accessible and affordable to the masses. OLA Electric has seen significant growth over the past few years. In the fiscal year 2023-2024, the company reported revenue of ₹5,243.27 crore, marking a substantial increase from the previous year's ₹2,782.70 crore. This growth is attributed to the robust sales of its electric scooters and the expansion of its charging infrastructure across India.

Financial information on OLA Electric

Here’s the restated consolidated data on the company’s assets, net worth and profits in Crores:

Market position and products

OLA Electric's flagship product, the OLA S1 scooter, has been a significant contributor to its revenue. The company has also been focusing on developing a robust network of charging stations to support its growing customer base. By the end of 2023, OLA Electric aims to have over 10,000 charging points across India, ensuring convenient access for EV users.

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

1. IPO size: Aggregating up to ₹6,145.56 Crore

2. IPO date: 2nd August 2024 to 6th August 2024.

3. Face Value: ₹10 per share.

4. Offer for sale (OFS): 84,941,997 shares of ₹10 (aggregating up to ₹645.56 Crore.)

5. Fresh issue: Aggregating up to ₹5,500.00 Crore

6. Price band: The price band for the IPO is expected to be in the range of ₹72-₹76 per share.

7. Lot size: Investors can bid for a minimum of 195 shares and in multiples thereof.

8. 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:

1. Open an HDFC Sky account: Sign up quickly and easily online and log in to HDFC Sky.

2. Apply for the IPO: Find the OLA Electric IPO, and select it.

3. Place your bid: Enter the desired shares and price, or choose the cut-off price.

4. Invest with one click: Use your UPI ID to block the funds.

5. 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

The OLA Electric IPO offers a prime investment opportunity in the expanding EV sector. With its cutting-edge products, strong market presence, and ambitious growth plans, OLA Electric is well-placed to capitalize on the rising demand for sustainable transportation. By investing through HDFC Sky, you can smoothly engage in this exciting IPO and potentially benefit from OLA Electric's future growth. Plus, you can explore additional investment options, including F&O, to diversify your portfolio.