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Initial public offering of up to [] equity shares of face value of Rs. 10 each (Equity Shares) of Ola Electric Mobility Limited (The Company or the Company) for cash at a price of Rs. [] per equity share (including a premium of Rs. [] per equity share) (Offer Price) aggregating up to Rs. [] crores (the Offer) comprising a fresh issue of up to [] equity shares aggregating up to Rs. 5500.00 crores (the Fresh Issue) and an offer for sale of up to 95,191,195 equity shares aggregating up to Rs. [] crores (the Offer for Sale), consisting of up to 47,394,014 equity shares aggregating up to Rs. [] crores by Bhavish Aggarwal, up to 4,178,996 equity shares aggregating up to Rs. [] crores by Indus Trust, up to 295,470 equity shares aggregating up to Rs. [] crores by AB Initio Capital, l.p., up to 3,782,883 equity shares aggregating up to Rs. [] crores by Alpha Wave Ventures ii, lp, up to 630,336 equity shares aggregating up to Rs. [] crores by Alpine opportunity fund vi, l.p., up to 17,717 equity shares aggregating up to Rs. [] crores by Ashna Advisors llp, up to 514,565 equity shares aggregating up to Rs. [] crores by Barry s. sternlicht, up to 839,941 equity shares aggregating up to Rs. [] crores by Dig Investment iv ab, up to 6,360,891 equity shares aggregating up to Rs. [] crores by Internet Fund iii Pte ltd, up to 1,354,978 equity shares aggregating up to Rs. [] crores by Macritchie Investments pte. ltd., up to 89,000 equity shares aggregating up to Rs. [] crores by Matrix Partners India iii aif trust, up to 3,727,534 equity shares aggregating up to Rs. [] crores by Matrix Partners India Investments iii, llc, up to 358,228 equity shares aggregating up to Rs. [] crores by Nuvama Private Investments trust-nuvama crossover opportunities fund - series iii, up to 278,619 equity shares aggregating up to Rs. [] crores by Nuvama Private Investments trust-nuvama crossover opportunities fund - series iii a, up to 278,644 equity shares aggregating up to Rs. [] crores by nuvama private investments trust-nuvama crossover opportunities fund - series iii b, up to 256,530 equity shares aggregating up to Rs. [] crores by Sarin Family India llc, up to 23,857,268 equity shares aggregating up to Rs. [] crores by svf ii ostrich (de) llc and up to 975,581 equity shares aggregating up to Rs. [] crores by Tekne Private Ventures xv, Ltd. (collectively, the Selling Shareholders and such equity shares, the Offered Shares). The offer includes a reservation of up to [] equity shares, aggregating up to Rs. [] crores (constituting up to [] % of the post-offer paid-up equity share capital, for subscription by eligible employees (Employee Reservation Portion). the offer less the employee reservation portion is hereinafter referred to as the Net Offer. The offer and the net offer shall constitute [] % and [] % of the post-offer paid-up equity share capital of the company. The company, in consultation with the book running lead managers, may consider a further issue of equity shares as may be permitted under applicable law to any person(s)) of [] equity shares for an amount aggregating up to Rs. 1100.00 crores, at its discretion, with the roc (pre-ipo placement). If the pre-ipo placement is undertaken, the fresh issue size will be reduced to the extent of such pre-ipo placement, subject to the offer complying with rule 19(2)(b) of the securities contracts (regulation) rules, 1957, as amended (scrr). The price band and the minimum bid lot shall be decided by the company.

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Ola Electric Mobility is an EV player in India and builds vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells.

The company manufactures EVs and core EV components like battery packs, motors and vehicle frames at the Ola Futurefactory. The business focuses on capturing the opportunity arising out of the electrification of mobility in India. The company also seeks opportunities to export its EVs in select international markets in the future.

Pure EV player with a leadership position in the fast-growing Indian E2W market

E2W penetration in India is expected to expand from approximately 4.5% of domestic 2W registration sales reported on the VAHAN portal in Fiscal 2023, to 41-56% of the domestic 2W sales volume by Fiscal 2028, according to the Redseer Report. The company’s exclusive and singular focus on EVs enables it to leverage this transition in the growing Indian 2W market.

In-house R&D and technology capabilities

The company undertakes R&D activities in India, the UK and the US, focussing on designing and developing new EV products and core EV components, such as battery packs, motors and vehicle frames.

Manufacturing at scale and supply chain resilience

The Ola Future factory is the largest integrated and automated E2W manufacturing plant in India (in terms of production capacity) by an E2W-only OEM, as of September 30, 2023, (Source: Redseer Report.) As of October 31, 2023, the Ola Future factory had an installed capacity of one million units per year, and is also an automated manufacturing facility equipped with modular and flexible assembly lines and an in-house paint shop. The in-house design and manufacturing of its core EV components enhance company control over the optimisation of EV performance and quality. These capabilities to manufacture at scale, automation, and flexible lines also enable the company to improve cost efficiency across value chains through economies of scale in its supply chain, fast component development and cross-utilisation of equipment across products.
  • The company has a limited operating history and has incurred losses and negative cash flows from operations.

  • The company could experience defects, quality issues, disruptions in the supply or an increase in the prices of components used for EVs.

  • If EVs contain defects, do not perform as per industry standards and/or fail to meet the performance levels advertised, the brand will be adversely affected.

  • Build “India” centric EV products with an “India first” strategy.

  • Continue to invest in R&D to advance technological capabilities and optimise costs.

  • Building an EV hub with vertically integrated manufacturing and supply chain to improve cost efficiency

Here are the key financials for Ola Electric Mobility Ltd:

Particulars (in Rs. million)

Here are the steps to apply for Ola Electric Mobility Ltd IPO:

Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.

Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.

Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.

Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.

Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.

Top Ola Electric IPO IPO FAQs

Link Intime India Private Limited is the registrar for this IPO.

You may read more about Ola Electric Mobility Limited and its IPO from the company’s draft red herring prospectus (DRHP) here

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