IPO Details

Bidding Dates

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Minimum Investment

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Price Range

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Maximum Investment

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Retail Discount

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Issue Size

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Investor category and sub category

RIIs  |   NIIs  |   QIBs  |   Eligible employees  |  

About Ola Electric Mobility Limited

Ola Electric Mobility, a prominent player in the Electric Vehicle (EV) sector in India, is strategically developing comprehensive technology and manufacturing capabilities for EVs and their components, including cells.

Since the initial product announcement in August 2021, Ola Electric Mobility has successfully delivered four products and unveiled six new ones. The Ola S1 Pro, the company's first EV model, was introduced in December 2021, followed by subsequent models such as the Ola S1, Ola S1 Air, and Ola S1 X+. Notably, the company announced new scooter models, Ola S1 X (2 kWh) and Ola S1 X (3 kWh), and a lineup of motorcycles named Diamondhead, Adventure, Roadster, and Cruiser in August 2023. Deliveries for these new models are slated to commence in the first half of Fiscal 2025 and Fiscal 2026, respectively.

Ola Electric Mobility achieved significant milestones, becoming India's top-selling electric two-wheeler (E2W) brand within nine months of delivering its first EV scooter in December 2021. The company has the highest revenue among Indian electric 2W original equipment manufacturers (OEMs) from E2W sales in Fiscal 2023.

The company's business model strongly emphasises research and development (R&D) and technology. Ola Electric Mobility conducts R&D activities in India, the United Kingdom (UK), and the United States (US) to drive in-house product innovation. The construction of an EV hub in Krishnagiri and Dharmapuri districts in Tamil Nadu, India, is underway, housing the Ola Futurefactory, the upcoming Ola Gigafactory, and co-located suppliers.

The Ola Futurefactory, recognised as India's largest integrated and automated E2W manufacturing plant by an E2W-only OEM as of September 30, 2023, manufactures EV scooters using in-house components and third-party sourced components. Additionally, Ola Electric Mobility operates a Battery Innovation Center (BIC) in Bengaluru, India, focused on advancing cell and battery technology and manufacturing processes for the forthcoming cell manufacturing at the Ola Gigafactory.

The company has established its direct-to-customer (D2C) omnichannel distribution network, comprising 935 experience centres and 414 service centres across India, as of October 31, 2023. The network includes India's largest company-owned network of experience centres, according to the Redseer Report as of September 30, 2023. This network, combined with the Ola Electric website, enhances the accessibility of Ola Electric Mobility's products and services to customers.

Industry Outlook

  1. India holds a significant position in the global automotive landscape, contributing 15-20% to the worldwide production of two-wheelers (2Ws) and ranking as the third-largest market for four-wheeled passenger vehicles in terms of sales volumes.
  2. The adoption of Electric 2Ws (E2Ws) is rising, constituting approximately 5.1% of total 2W registrations in India during the first half of Fiscal Year 2024. This trend is projected to accelerate, with E2Ws expected to represent 41-56% of domestic 2W sales volumes by Fiscal Year 2028.

Ola Electric Mobility Ltd IPO Details

Ola Electric Mobility Ltd IPO Dates

The exact dates are yet to be announced.

Ola Electric Mobility Ltd IPO Price Band

The exact price range is yet to be announced.

Ola Electric Mobility Ltd IPO Lot Size

The exact lot size is not announced yet.

Ola Electric Mobility Ltd IPO’s Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Ola Electric Mobility's subsidiary, OCT, is set to undertake a capital expenditure of ₹12,264.27 million for Project implementation.
  2. A total of ₹8,000 million is earmarked for the repayment or partial pre-payment of the debts incurred by Ola Electric Mobility's subsidiary, OET.
  3. Ola Electric Mobility plans to allocate ₹16,000 million towards investments in research and product development, emphasising a commitment to innovation and advancement.
  4. An expenditure of ₹3,500 million supports organic growth initiatives, reflecting Ola Electric Mobility's strategic efforts to expand its operations and market presence.
  5. General corporate purposes.

Peer Details

The companies considered by Ola Electric Mobility as its peers include:

  1. TVS Motors Limited
  2. Eicher Motors Limited
  3. Bajaj Auto Limited
  4. Hero MotoCorp Limited

How To Check the Allotment Status of Ola Electric Mobility Limited’s IPO?

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  • Go to the IPO Section and then to IPO Orders.
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Contact Details of Ola Electric Mobility Limited

Registered office: Regent Insignia, #414 3rd Floor, 4th Block, 17th Main 100 Feet Road, Koramangala Bengaluru 560 034 Karnataka, India

Contact Person: Pramendra Tomar (Company Secretary and Compliance Officer)

Phone: +91 80 3544 0050

E-mail: ipo@olaelectric.com

IPO Financials

Particulars Year ending on March 31, 2023 Year ending on March 31, 2022 Year ending on March 31, 2021
Total Income 27,826.97 4,562.60 1,060.81
EBITDA (11,970.98) (7,175.52) (1,788.22)
Total Borrowings 16,457.53 7,504.07 388.72
Debt to Equity Ratio(x) 0.72 (0.10) (0.62)
Return on Net Worth (RoNW) (%) (62.47)% (21.42)% (10.11)%
Earning Per Share (EPS) in absolute ₹ (3.91) (2.23) (0.59)

Know before investing


  1. Ola Electric Mobility seamlessly integrates diverse technologies, from in-house operating systems to manufacturing processes. This interconnected approach enhances control over product development, performance, and cost.

  2. With a vertically integrated manufacturing ecosystem, Ola Electric Mobility streamlines core EV component production. This approach, combined with a resilient supply chain and flexible assembly lines, effectively drives down costs and optimises capital expenditure.

  3. Ola Electric Mobility's direct-to-consumer omnichannel distribution integrates sales, service, and charging networks on a common platform. This streamlined approach ensures a consistent customer experience across all EV models, allowing for scalability and efficient infrastructure investment for future models.

  4. Ola Electric Mobility operates in the second-largest global 2W market, representing 15-20% of worldwide production in Fiscal 2023. Although India's E2W penetration is currently lower than several countries, it is anticipated to surge from 4.5% in Fiscal 2023 to 41-56% by Fiscal 2028, reflecting a significant growth opportunity for Ola Electric Mobility.


  1. Ola Electric Mobility faces challenges with its limited operating history, ongoing losses, and negative cash flows due to continued investments in business expansion and product development.

  2. Potential risks include defects, quality issues, and disruptions in the supply chain, leading to increased material costs and potential impacts on manufacturing timelines.

  3. Brand and reputation risks arise if electric vehicles fail to meet industry standards, potentially triggering product recalls and legal actions.

  4. The Ola Gigafactory in Tamil Nadu may encounter obstacles in its in-house cell manufacturing capabilities during the construction and expansion phases.

  5. The company is exposed to the risk of reduced government incentives, including subsidies and tax concessions, which could increase the purchase cost of electric vehicles and negatively impact customer demand.

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Ola Electric Mobility Limited IPO FAQs

What is Ola Electric Mobility Ltd's IPO?

Ola Electric Mobility IPO is a book-built IPO. The exact dates and price range are yet to be announced. 

When will Ola Electric Mobility Ltd's IPO be allotted?

The exact dates and price range are yet to be announced. 

When will Ola Electric Mobility Ltd's IPO open for subscription?

The IPO subscription window is not announced yet.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot. However, the lot size has not been announced yet.

When will Ola Electric Mobility Ltd list on exchanges?

The exact date is not announced yet.

How do I check the allotment status of the Ola Electric Mobility Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for. 
  • Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

What would be the listing gains on the Ola Electric Mobility Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The exact date is not announced yet.

I have finished the application process for the Ola Electric Mobility Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Ola Electric Mobility Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Ola Electric Mobility Ltd using one PAN?

You can submit only one application using your PAN card.