Ola Electric Mobility IPO: Electric Vehicles company to hit capital market to raise ~INR 6,146 crores through public issue

Ola Electric Mobility is into Automobile Electric Vehicles and is looking raise funds through Fresh Issue and Offer For Sale

Ola Electric Mobility to raise Fresh Issue aggregating up to Rs 5,500 crores and an Offer for Sale up to 95,191,195 Equity Shares through public issue IPO

Ola Electric Mobility IPO Update:

Ola Electric Mobility Limited IPO: Bengaluru based Ola Electric Mobility Limited established in the year 2017 and is into Automobile - Electric Vehicles sector.

Company is promoted by Bhavish Aggarwal. Pre-Offer Promoter and Promoter group stake in the company is 45.14%.

Ola Electric Mobility Limited has filed Red Herring Prospectus (RHP) for proposed initial public offer (IPO). Total issue size is INR 6,146 Crores calculated on upper price band (face value of INR 10 per share) via initial public offering.

Initial Public Offer comprising of a Fresh Issue of Equity shares aggregating up to Rs 5,500 Cr and an Offer for Sale of up to 84,941,997 Equity Shares. Kotak Mahindra Capital, BofASecurities, Axis Capital, SBI Capital Markets, Citigroup Global Markets, Goldman Sachs (India) Securities, ICICI Securities, BOB Capital Markets have been appointed as lead merchant bankers for the proposed IPO. It has appointed Link Intime India Private Limited as Registrar and Share transfer Agent.

Details about upcoming IPO:
As per the details available in RHP, Price band is Rs 72 to Rs 76 with lot size of 195 shares and in multiples thereof. Objects of the issue is 1) Capital expenditure to be incurred by its subsidiary, OCT for the Project - Rs. 1226.4 crs 2) Repayment of debt by subsidiary, OET - Rs. 800 crs , 3) Investment into R&D - Rs. 1600 crs 4) Expenditure to be incurred for organic growth initiatives - Rs. 350 crs, and 5) General corporate purposes.

IPO Dates:

IPO will open on August 02, 2024 and close on August 02, 2024. Tentative date of listing on stock exchanges is August 09, 2024

Want to know more details about the IPO, please visit here Ola Electric Mobility Limited

Source: SEBI, BSE, NSE, DRHP, Ola Electric Mobility, Industry Data

Disclaimer: Above article only publishes details about the IPO and for educational purpose only. It doesn't solicit or invite any interest to invest in any kind of securities. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.