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Ola company's IPO will open on August 2. Investors can bid on it till August 6. The company's shares will be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on August 9. With this, it will become the first listed electric two-wheeler company.
The company will raise Rs 6,145.56 crore through this issue. For this, the company will issue 723,684,210 new shares worth Rs 5,500 crore. At the same time, the existing investors of the company are selling 84,941,997 shares worth Rs 645.56 crore through OFS from Offer for Sale.
The company has increased the price band of the IPO to ₹72-₹76
Ola Electric has fixed the price band of the IPO at ₹72-₹76. Investors can place retail bids for a minimum of one lot i.e. 195 shares. As per the upper price band of the IPO of ₹76, one can apply for 1 lot. That is, an investment of Rs 14,820 will have to be made.
That is, retail investors can apply for a minimum of 13 lots i.e. 2535 shares. For this, investors will have to invest ₹ 192,660 as per the upper price band.
Release 10% reserve for retail investors
The company has reserved 75% of the issue for qualified institutional buyers (QIB). Apart from this, about 10% of the shares are reserved for retail investors and the remaining 15% shares are reserved for
Reserved for Non-Institutional Investors (NIIs).
SEBI last month approved Ola Electric to launch IPO. The Securities Exchange Board of India (SEBI) last month approved the IPO launch of Ola Electric. Ola is India's largest electric two-wheeler manufacturer. On December 22, 2023, the Bengaluru-based company filed a draft red herring prospectus (DRHP) for the IPO with SEBI. Ola Electric plans to sell 9.52 million shares through an offer for sale and issue new shares at Rs. According to the DRHP, it was proposed to raise Rs 5,500 crore. Company founder Bhavesh Aggarwal alone is going to sell 4.73 crore shares.
Ola Electric Mobility was founded in 2017
Bengaluru-based Ola Electric Mobility was founded in 2017. The company is primarily manufacturing electric vehicles, battery packs, motors and vehicle frames at the Ola Future Factory. As of March 31, 2024, the company had 959 employees (907 permanent and 52 freelancers).
What is DRHP?
DRHP is a document filed by a company planning an IPO. It will be filed with SEBI. It provides important information about the company's financial affairs, its promoters, risk of investing in the company, funds raised, how to use the funds, etc.
What is an IPO?
When a company issues shares to investors for the first time, it is called an IPO (Initial Public Offering). In such a situation, the company needs money to expand its business, instead of taking a loan, the company raises funds by selling some shares to investors or by issuing new shares. For this, the company launches an IPO.
