Ola Electric Mobility
Mainboard₹6,146 Cr issue
-0.01%
Listing gain over issue price
Issue size
₹6,146 Cr
1 lot at cut-off
₹14,820
Lot size
195shares
Open
02 Aug 2024
Close
06 Aug 2024
Allotment
07 Aug 2024
Listing
09 Aug 2024
Listing performance
Issue price
₹76
Listed at
₹75.99
Listing-day close
₹91.20
Latest price
₹29.93
Close on 23 Oct 2026
Listing gain
-0.01%
Return since issue
-60.62%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 02 Aug 2024 – 06 Aug 2024
- Listing date
- 09 Aug 2024
- Face value
- ₹10 per share
- Issue price
- ₹76 per share
- Lot size
- 195 shares
- Total issue size
- ₹6,146 Cr
- Market cap at offer price
- ₹33,522 Cr
- Promoter holding
- 45.14% → 36.78% pre-issue → post-issue
- ISIN
- INE0LXG01040
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Kotak Mahindra Capital Co.Ltd.
- Registered office
- Regent Insignia, #414, 3rd Floor, 4th Block, 17thMain100 Feet Road, Koramangala, Karnataka
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 36,35,56,135 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 195 shares per lot, in multiples, at ₹76
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 195 | ₹14,820 |
| Retail (max) | 13 | 2,535 | ₹1,92,660 |
| S-HNI (min) | 14 | 2,730 | ₹2,07,480 |
| S-HNI (max) | 67 | 13,065 | ₹9,92,940 |
| B-HNI (min) | 68 | 13,260 | ₹10,07,760 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
36,35,56,135
Anchor portion
₹2,763 Cr
at ₹76 per share
Valuation and performance
Valuation at offer price
₹76 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | −4.30 | −3.59 |
| Price to book (×) | 13.72 | — |
| Market cap | — | ₹33,522 Cr |
No price-to-earnings multiple is shown: the company reported a loss, and an earnings multiple struck on negative earnings would read as a cheap valuation while meaning the opposite.
Key performance indicators
Latest reported period
- Return on net worth
- −78.46%
- NAV per share
- ₹5.54
- Price to book
- 13.72
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Ola Electric Mobility
Ola Electric Mobility Limited is a pure EV player in India building vertically integrated technology and manufacturing capabilities for electric vehicles and EV components. Incorporated in 2017, the company delivered its first electric scooter in December 2021 and has since delivered seven products with four additional products announced. The company manufactures EVs and certain core EV components at the Ola Futurefactory and recently commenced manufacturing 4680-form factor cells at the Ola Gigafactory on March 22, 2024. The company operates a direct-to-customer omnichannel distribution network comprising 870 experience centres and 431 service centres as of March 31, 2024, plus its Ola Electric website. Revenue from operations increased to ₹50,098.31 million in Fiscal 2024 from ₹26,309.27 million in Fiscal 2023 and ₹3,734.23 million in Fiscal 2022, with scooter sales volumes increasing to 329,618 units in Fiscal 2024 from 156,251 units in Fiscal 2023 and 20,948 units in Fiscal 2022.
Company Analysis
from RHPOla Electric Mobility manufactures electric two-wheelers and core EV components, including in-house cell manufacturing, operating across the pure EV mobility sector in India.
Ola Electric Mobility Limited is a pure EV player in India building vertically integrated technology and manufacturing capabilities for electric vehicles and EV components. Incorporated in 2017, the company delivered its first electric scooter in December 2021 and has since delivered seven products with four additional products announced. The company manufactures EVs and certain core EV components at the Ola Futurefactory and recently commenced manufacturing 4680-form factor cells at the Ola Gigafactory on March 22, 2024. The company operates a direct-to-customer omnichannel distribution network comprising 870 experience centres and 431 service centres as of March 31, 2024, plus its Ola Electric website. Revenue from operations increased to ₹50,098.31 million in Fiscal 2024 from ₹26,309.27 million in Fiscal 2023 and ₹3,734.23 million in Fiscal 2022, with scooter sales volumes increasing to 329,618 units in Fiscal 2024 from 156,251 units in Fiscal 2023 and 20,948 units in Fiscal 2022.
Electric two-wheeler manufacturingElectric vehicle components manufacturingBattery cell manufacturingEV retail and distribution
Objects of the Issue
- Capital expenditure to be incurred by our Subsidiary, OCT for the Project (expansion of Ola Gigafactory capacity from 5 GWh to 6.4 GWh) ₹12,276.41 million p.19
- Repayment or pre-payment, in full or part, of the indebtedness incurred by our Subsidiary, OET ₹8,000.00 million p.19
- Investment into research and product development ₹16,000.00 million p.19
- Expenditure to be incurred for organic growth initiatives ₹3,500.00 million p.19
- General corporate purposes p.19
- Funding capital expenditure requirements to expand the Ola Gigafactory's manufacturing capacity ₹12,276.41 million p.42
- Repayment or pre-payment of certain outstanding borrowings of Material Subsidiary OET p.66
- General corporate purposes p.48
- Capital expenditure to be incurred by our Subsidiary, OCT for expansion of the capacity of our cell manufacturing plant from 5 GWh to 6.4 GWh, classified as phase 2 under the expansion plan ₹12,276.41 million p.125
- Repayment or pre-payment, in full or part, of the indebtedness incurred by our Subsidiary, OET ₹8,000.00 million p.134
- Investment into research and product development ₹16,000.00 million p.125
- Expenditure to be incurred for organic growth initiatives ₹3,500.00 million p.125
- General corporate purposes [●] p.125
- Investment into research and product development ₹16,000 million over the next three years (FY2025-FY2027) p.140
- Expenditure to be incurred for organic growth initiatives ₹3,500.00 million p.141
- Payment of rental expenses for existing experience centres ₹2,810.72 million p.141
- Expansion of new experience centres ₹279.78 million p.141
- Expansion of network of hyper charger guns ₹409.50 million p.141
- General corporate purposes Balance of Net Proceeds not exceeding 25% of Gross Proceeds p.146
- Funding capex for expansion of cell manufacturing capacity at Ola Gigafactory from 1.4 GwH to 6.4 GwH by April 2025 p.202
- Funding capital expenditure for the Ola Futurefactory expansion and Ola Gigafactory development p.333
- General corporate purposes and working capital requirements p.328
- Repayment or pre-payment, in full or in part, of OET's working capital borrowings p.355
- Expansion of the installed capacity of our Ola Gigafactory from 5 GwH to 6.4 GwH p.355
- Investment in research and product development p.355
- Organic growth initiatives and general corporate purposes p.355
Issue Structure
- Total Issue
- Up to [●] equity shares of face value of ₹ 10 each aggregating up to ₹[●] million
- Fresh Issue
- Up to [●] equity shares of face value of ₹ 10 each aggregating up to ₹55,000 million
- Offer for Sale
- Up to 84,941,997 equity shares of face value of ₹ 10 each aggregating up to ₹[●] million
- Price Band
- [●] per Equity Share
- Lot Size
- [●] equity shares of face value of ₹ 10 each and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹10 each
Business Model
The company earns revenue from the sale of electric scooters and associated spare parts and services. It manufactures EVs and core EV components in-house while sourcing certain components from domestic and foreign suppliers. The company benefits from government incentives including FAME Phase II subsidies (replaced by EMPS 2024 on April 1, 2024), subsidies from the government of Tamil Nadu, and goods and services tax reimbursements. Additionally, the company benefits from PLI Scheme incentives.
Business Segments
Design, development, manufacturing and sale of electric two-wheelers (scooters)
In-house manufacturing of battery cells at the Ola Gigafactory with 4680-form factor cells
Direct-to-customer omnichannel distribution network comprising experience centres, service centres and e-commerce website
Design, development and manufacture of electric two-wheeler scooters for the Indian market
Manufacturing of 4680 form factor lithium-ion cells at the Ola Gigafactory through material subsidiary OCT
Operation of public and private charging infrastructure including hyper charger guns and standard charger guns
Design, development, manufacturing and sale of electric scooters including the Ola S1 Pro, Ola S1, Ola S1 Air, Ola S1 X+, and variants of Ola S1 X
In-house cell manufacturing through the Ola Gigafactory with R&D facility (BIC) in Bengaluru focused on developing cell technology and manufacturing processes
Developing new EV products and core EV components including battery packs, motors, vehicle frames, software (MoveOS), and cell technology through R&D centers in India, UK and US
Manufactures and sells electric scooters including Ola S1 Pro, Ola S1, Ola S1 Air, Ola S1 X+, and Ola S1 X variants. Delivered 330,000 units in FY2024 with 35% E2W market share in India.
Announced four motorcycle models (Diamondhead, Adventure, Roadster, and Cruiser). Planned delivery commencement in first half of Fiscal 2026.
Developing cell technology and manufacturing processes at Ola Gigafactory. Phase 1(a) started commercial operations on March 22, 2024 with 1 GWh capacity achieved. Operating Battery Innovation Centre (BIC) in Bengaluru.
Design, manufacture, and sell electric two-wheeler scooters across premium and mass-market categories including Ola S1 Pro, Ola S1 Air, Ola S1 X+, and Ola S1 X variants
Design and manufacture electric motorcycles (Diamondhead, Adventure, Roadster, Cruiser) planned for delivery commencement in first half of Fiscal 2026
Design, manufacture, install, and operate charging stations for electric vehicles; operate hyper and standard chargers across India
Develop and manufacture advanced chemistry cells, particularly 4680-form factor cells at Ola Gigafactory for use in EV products and energy storage systems
Develop MoveOS operating system, AI platform, electronics architecture, and manufacturing cloud software for EV control, customer experience, and production optimization
Manufacture and sale of electric scooters including Ola S1, Ola S1 Pro, Ola S1 Air, and Ola S1 X+ models with design and in-house manufacturing of core components including motors, drivetrains, battery packs, electronics and software
Sale of spare parts, chargers, wall mounts and other vehicle accessories sourced from third-party suppliers
Provision of services including vehicle performance upgrades, wall mount charger installation, vehicle registration assistance and warranty services
In-process development of cell technologies and cell manufacturing processes for use in the Ola Gigafactory; Phase 1(a) started commercial operations on March 22, 2024
Design, manufacture and sale of electric scooters including Ola S1 Pro, Ola S1, Ola S1 Air, Ola S1 X+ models with in-house developed components such as battery packs, motors, BMS, and MoveOS software.
Development and manufacturing of advanced chemistry cells for use in EVs through subsidiary Ola Cell Technologies at the Ola Gigafactory. Phase 1(a) commenced commercial operations on March 22, 2024 with 1 GwH capacity achieved.
SWOT Analysis
Strengths
- • Pure EV player with vertically integrated manufacturing and technology capabilities(p.17)
- • Strong product portfolio with seven delivered products and four announced(p.17)
- • Established direct-to-customer omnichannel distribution network(p.17)
- • Significant revenue growth trajectory(p.34)
- • Strong patent portfolio with domestic and international protection(p.42)
- • BIS-certified 4680 form factor cell technology with manufacturing capability(p.42)
- • Diverse EV scooter portfolio across price segments(p.43)
- • Achieved first-year capacity target under Cell PLI Scheme(p.44)
- • Established experience centre and service centre network(p.53)
- • Vertically integrated business model with in-house R&D and manufacturing across core EV components(p.137)
- • Significant R&D investment with dedicated team of 907 engineers (~22.61% of on-roll employees in R&D)(p.137)
- • In-house cell manufacturing capabilities through Ola Gigafactory to control battery quality, supply and cost(p.128)
- • Generation 2 platform delivers superior performance with 22.55% reduction in cost, 11% fewer parts and 6% less energy consumption versus Generation 1(p.137)
- • Multiple product launches demonstrating market presence with seven delivered products and four announced new products(p.138)
- • Leadership position in India's E2W market with 35% market share(p.196)
- • Pure EV player with undivided focus on EV technologies versus split R&D in ICE competitors(p.196)
- • Vertically integrated in-house R&D across all critical EV technologies(p.191)
- • Manufacturing at scale with largest automated E2W manufacturing capacity by EV-only OEM(p.191)
- • Largest company-owned D2C omnichannel distribution network in India(p.195)
- • Only EV manufacturer eligible for two PLI schemes (Automobile and Cell)(p.196)
- • Adaptable platform-based product development enabling rapid market launch(p.193)
- • Founded by serial entrepreneur with proven execution track record(p.196)
- • In-house R&D and core EV technology development across five key areas(p.197)
- • Largest integrated and automated E2W manufacturing plant in India by capacity(p.198)
- • Platform-based design reducing product development costs and time to market(p.198)
- • Only EV manufacturer beneficiary of two Government of India PLI schemes(p.200)
- • Direct-to-customer omnichannel distribution enabling customer feedback integration(p.198)
- • Market leadership in electric scooter registrations within 9 months of launch(p.203)
- • Strong intellectual property portfolio with 88 registered patents and 217 pending(p.221)
- • Established key management with specialized expertise in vehicle engineering and technology(p.253)
- • Chief Technology Officer with product and software development leadership experience(p.253)
- • Strong promoter backing with significant shareholding commitment(p.255)
- • Established giga factory with successful trial completion and commercial production(p.295)
- • Vertically integrated in-house R&D and manufacturing of core EV components(p.338)
- • Modular platform architecture enabling faster product development and cost reduction(p.338)
- • Significant operating leverage as business scales(p.339)
- • High component commonality across product models reducing BOM and manufacturing costs(p.338)
- • Recipient of India's premier government incentive schemes for EVs and battery manufacturing(p.341)
- • Improving asset turnover and capital efficiency(p.340)
Weaknesses
- • Continuous operating losses since inception(p.33)
- • Limited operating history in EV manufacturing(p.34)
- • Heavy dependence on government subsidies for competitive pricing(p.37)
- • Concentration of supply with top 10 suppliers providing 59.87% of revenue(p.35)
- • High R&D intensity without assured returns on investment(p.34)
- • Lack of trademark protection for primary brand name(p.42)
- • Heavy dependence on single EV scooter model for revenue(p.43)
- • Low capacity utilization at Ola Futurefactory(p.46)
- • Incomplete warranty cycle history and insufficient warranty reserves(p.43)
- • Significant accumulated losses and negative cash flows(p.50)
- • High employee attrition rates(p.49)
- • Founder distraction from multiple business roles(p.49)
- • High capital commitments and potential debt covenant breaches(p.49)
- • Increased customer complaints and product quality issues(p.56)
- • Significant accumulated losses of ₹28,825.41 million in reserves and surplus as of March 31, 2024(p.86)
- • Continuous operating losses with Loss for the year of ₹15,844.00 million in FY2024, ₹14,720.79 million in FY2023, and ₹7,841.50 million in FY2022(p.87)
- • High debt burden with borrowings of ₹23,892.10 million (₹13,186.00 million non-current and ₹10,706.10 million current) as of March 31, 2024(p.86)
- • Dependence on substantial equity funding from limited number of large institutional investors(p.115)
- • Negative cash flow from operating activities of ₹6,330.87 million in FY2024, indicating cash burn(p.88)
- • Negative EBITDA and ongoing losses despite rapid revenue growth(p.192)
- • Dependence on two subsidiaries for majority of R&D and cell manufacturing(p.141)
- • Heavy concentration of EV scooter sales with limited motorcycle and 4W presence(p.195)
- • Currently sourcing cells from third parties with emerging in-house cell manufacturing still under development(p.194)
- • Risk of subsidy from Cell PLI Scheme being deducted if committed capacity milestones not met(p.196)
- • Significant dependence on third-party cell suppliers currently(p.202)
- • Reliance on foreign cell imports and raw material imports(p.220)
- • Exposure to single-source component suppliers with limited alternatives(p.220)
- • High R&D spend relative to revenue reducing near-term profitability(p.197)
- • Accumulated losses and negative net asset value in Material Subsidiary OET(p.235)
- • Material subsidiary with significant accumulated losses and negative working capital(p.281)
- • Consolidated entity showing sustained operating losses with deteriorating performance(p.274)
- • Dependence on continued support from holding company for OET operations(p.281)
- • Contingent accounting software audit trail deficiencies affecting revenue and payroll systems(p.292)
- • No dividend payments despite significant capital raises(p.262)
- • Significant accumulated losses and cash burn(p.349)
- • High dependence on government subsidies for customer affordability and demand(p.342)
- • High capital intensity and significant debt obligations(p.354)
- • Negative EBITDA and ongoing cash burn despite revenue growth(p.352)
- • Concentration of production in single facility subject to operational risks(p.338)
Opportunities
- • Significant growth opportunity in Indian E2W market with expected CAGR of 11% by 2028(p.18)
- • Export opportunities to Africa, LATAM and Southeast Asia(p.18)
- • In-house cell manufacturing to improve margins and control supply(p.34)
- • Expansion of product portfolio into new vehicle segments and price points(p.34)
- • Government incentives available under EMPS 2024 and PLI schemes(p.39)
- • Expansion into EV motorcycles and energy storage products(p.42)
- • Scale up cell manufacturing capacity under PLI scheme(p.44)
- • International expansion into select markets(p.70)
- • Leverage government incentives for EV adoption(p.75)
- • Internet-led direct-to-consumer distribution model(p.55)
- • Expansion of charging infrastructure network(p.48)
- • Government incentives through Production Linked Incentive (PLI) Scheme for ACC Battery Storage encouraging domestic giga-scale cell manufacturing(p.127)
- • Expansion of Ola Gigafactory production capacity from 5 GWh to 20 GWh supporting scaling of EV manufacturing(p.128)
- • Investment into research and product development with ₹16,000.00 million allocated to drive innovation and new product development(p.126)
- • Organic growth initiatives with ₹3,500.00 million allocation for business expansion and market penetration(p.126)
- • Benefits of listing including enhanced brand name and creation of public market for equity shares in India(p.126)
- • E2W penetration projected to grow from 5.4% to 41-56% of domestic 2W sales by FY 2028(p.192)
- • Expansion into E4W market leveraging EV technology and manufacturing platform(p.178)
- • Motorcycle launch planned for first half of FY 2026 diversifying product portfolio(p.191)
- • Large export opportunity of 100-110 million 2W units globally available to Indian OEMs(p.192)
- • Government support through PLI schemes, FAME subsidies, and state-level EV incentives(p.192)
- • Expansion of experience centers and charging infrastructure to capture market growth(p.141)
- • Expansion into motorcycle segment with planned Fiscal 2026 launch(p.203)
- • Large addressable market of 16-17 million vehicles across mass and premium segments(p.204)
- • Strategic expansion of D2C charging network across India(p.203)
- • Backward integration into cell manufacturing with Ola Gigafactory(p.202)
- • International export opportunities in ASEAN, Latin America and Africa(p.204)
- • EV hub with supplier co-location enabling cost optimization(p.202)
- • Expansion of product portfolio across multiple vehicle categories in development(p.300)
- • Integration of financial services through related party offerings(p.256)
- • Leveraging ANI Technologies platform for vehicle sales and marketing(p.256)
- • Vertical integration through in-house battery cell manufacturing(p.253)
- • Significant market growth potential as E2W penetration expected to expand dramatically(p.342)
- • Planned expansion into motorcycle segment with platform approach(p.338)
- • Expansion of Ola Gigafactory cell production capacity for cost reduction and integration(p.338)
- • Strong government policy support for EV adoption and domestic manufacturing(p.341)
- • Sequential capital deployment strategy allowing gradual expansion without overcommitment(p.341)
Threats
- • Risk of reduction or elimination of government subsidies affecting competitiveness(p.37)
- • Supply chain disruption risks from single-source or limited suppliers(p.36)
- • Exposure to raw material price volatility and global supply constraints(p.36)
- • Dependence on imported cell supplies and exposure to battery supply constraints(p.36)
- • Risks from discontinuation of PLI schemes affecting profitability(p.40)
- • Competition from established ICE vehicle manufacturers with established brand reputation(p.37)
- • Delays and cost overruns in Ola Gigafactory expansion phases(p.42)
- • Risk of product defects or quality issues damaging brand reputation(p.38)
- • Rapid evolution of competing battery cell technologies(p.42)
- • Risk of subsidy reduction or discontinuation(p.75)
- • Potential penalties for failure to meet Cell PLI capacity targets(p.42)
- • Intense competition from established automotive manufacturers(p.45)
- • Supply chain disruptions and geopolitical risks(p.73)
- • Regulatory risks and import restrictions on raw materials(p.42)
- • Risk of lithium-ion battery fires and safety incidents(p.54)
- • Inadequate public charging infrastructure(p.53)
- • Economic slowdown impact on discretionary consumer spending(p.73)
- • Natural disasters, pandemics, and external disruptions(p.73)
- • Risk that prospective investors may not be able to sell equity shares immediately on Indian stock exchanges post-listing(p.81)
- • Material adverse changes in international or national monetary policy, financial, political or economic conditions between bid submission and allotment could limit investors' ability to sell shares or cause trading price decline(p.81)
- • Risk of equity dilution from future equity offerings and exercise of employee stock options(p.81)
- • Sales or pledges of substantial equity shares by major shareholders including Promoter could adversely affect market price and future capital raising ability(p.81)
- • Shareholders may face restrictions in exercising pre-emptive rights under Indian law resulting in future ownership dilution(p.81)
- • Intensified competition from incumbent ICE OEMs entering EV market with scale and distribution advantages(p.187)
- • EV market susceptibility to subsidy and government policy changes affecting pricing and demand(p.190)
- • Dependence on imported critical battery materials creating supply chain vulnerability(p.190)
- • Geopolitical tensions and supply chain disruptions impacting component costs and availability(p.190)
- • Economic downturns and inflation reducing consumer purchasing power and EV demand(p.190)
- • Battery price reductions could accelerate E4W adoption by incumbent OEMs with scale(p.183)
- • Supply chain disruptions and price increases for components and raw materials(p.220)
- • Potential supply constraints and quality issues in cell manufacturing raw materials(p.220)
- • Government incentive scheme changes impacting economics(p.200)
- • Regulatory and compliance requirements across multiple jurisdictions(p.231)
- • Competitive intensity from established automotive manufacturers entering EV segment(p.31)
- • Significant borrowing obligations with increasing debt levels(p.273)
- • Substantial cash burn and negative operating cash flows(p.278)
- • Ongoing capital expenditure requirements for factory expansion and development(p.278)
- • Promoter commitment to maintain minimum shareholding creates refinancing risk(p.255)
- • Dependence on government subsidies and risk of policy changes reducing customer affordability(p.342)
- • Exposure to foreign exchange fluctuations impacting sourcing costs(p.355)
- • Seasonality of demand affecting revenue and profitability consistency(p.356)
- • Strict compliance requirements and potential penalties under Cell PLI Scheme(p.341)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Bhavish Aggarwal | Promoter Selling Shareholder | 36.94% | — |
| Indus Trust | Promoter Group Selling Shareholder | 3.85% | — |
| ANI Technologies Private Limited | Promoter Group | 4.35% | — |
| Bhavish Aggarwal | Founder and Promoter | — | [●]% |
| Bhavish Aggarwal | Promoter | 36.94% | [●] |
| ANI Technologies Private Limited | Promoter Group | 4.35% | [●] |
| Indus Trust | Promoter Group | 3.85% | [●] |
| Naresh Kumar Aggarwal | Promoter Group | — | — |
| Bhavish Aggarwal | Promoter/Chairman and Managing Director | — | — |
| Bhavish Aggarwal | Promoter | — | — |
| Bhavish Aggarwal | Promoter | 36.94% | — |
| Bhavish Aggarwal | Promoter/Founder | 69.65% | — |
| Bhavish Aggarwal | Promoter | — | — |
| Bhavish Aggarwal | Selling Shareholder | — | — |
| Indus Trust | Selling Shareholder | — | — |
| Ab Initio Capital, L.P. | Selling Shareholder | — | — |
| Alpha Wave Ventures II, LP | Selling Shareholder | — | — |
| Alpine Opportunity Fund VI, L.P. | Selling Shareholder | — | — |
| Ashna Advisors LLP | Selling Shareholder | — | — |
| Internet Fund III Pte Ltd | Selling Shareholder | — | — |
| MacRitchie Investments Pte. Ltd. | Selling Shareholder | — | — |
| Matrix Partners India III AIF Trust | Selling Shareholder | — | — |
| Matrix Partners India Investments III, LLC | Selling Shareholder | — | — |
| Nuvama Private Investments Trust-Nuvama Crossover Opportunities Fund - Series III | Selling Shareholder | — | — |
| Nuvama Private Investments Trust-Nuvama Crossover Opportunities Fund - Series IIIA | Selling Shareholder | — | — |
| Nuvama Private Investments Trust-Nuvama Crossover Opportunities Fund - Series III B | Selling Shareholder | — | — |
| Sarin Family India LLC | Selling Shareholder | — | — |
| SVF II Ostrich (DE) LLC | Selling Shareholder | — | — |
| Tekne Private Ventures XV, Ltd. | Selling Shareholder | — | — |
Leadership
Bhavish Aggarwal · Promoter
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Ola Electric Mobility IPO FAQs
What is the lot size of Ola Electric Mobility IPO?
The minimum lot size of Ola Electric Mobility IPO is 195 shares. One lot costs ₹14,820 at the cut-off price.
When does Ola Electric Mobility IPO open and close?
Ola Electric Mobility IPO opened for subscription on 02 Aug 2024 and closed on 06 Aug 2024.
What is the listing date of Ola Electric Mobility IPO?
Ola Electric Mobility IPO listed on 09 Aug 2024.