Home EV News Ola Electric IPO: 47.4 Million Shares to be sold For Raising Rs...

Ola Electric IPO: 47.4 Million Shares to be sold For Raising Rs 5500 Cr

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OLA Electric IPO

As per CNBC, On Friday evening, 22 December 2023, Ola Electric filed its draft Red Herring prospectus for an Initial Public Offering (IPO) with SEBI. Ola Electric is planning to sell 95,191,195 equity shares at the face value of Rs. 10. Ola Electric is targeting value in the range of USD 7 million to USD 8 million in the year 2024. This IPO will be one of the most awaited initial public offerings in the year 2024. Ola Electric is one of the most popular electric vehicle manufacturers in India.

Ola Electric IPO
  • What is an IPO?

IPO stands for Initial Public Offering. It is the process in which a private company becomes a public company by offering equity shares of the company to the public for the first time. With the help of an IPO, a given company raises capital by issuing new shares to investors, and the existing shareholders of the company can sell their shares to the public.

IPO (Initial Public Offering) allows companies to raise a significant amount of capital which is used to fund the growth and expansion of the company. IPOs also provide the opportunity for early investors and employees to sell their shares and gain profit.

Ola Electric IPO

How OLA Electric IPO Will be Beneficial For the Company?

The IPO of OLA Electric will be beneficial for the growth and expansion of the company. Existing and early investors in Ola Electric can trade their shares in the IPO and gain profit. With this IPO, Ola will gain a significant amount of funds for the future expansion of the company. Most probably Ola Electric will use these funds for the development of its Gigafactories. IPO also helps Ola Electric enhance its visibility and prestige.

Gigafactory
OLA GigaFactory

What are the Plans of Ola Electric by Securing Funds Through IPO

The EV products and services of Ola Electric are getting popular in India. Ola’s electric scooters are highest highest-selling electric scooters in India. To keep up with the demand, Ola is planning to expand its business, manufacturing units, and services. OLA Electric will use the secured capital from IPO for the business expansion.

  • Ola is planning to set up cell technologies gigafactory project worth Rs. 1226.4 Crore.
  • Ola Electric will use nearly Rs 1600 Crore for the research and development of future projects.
  • Nearly Rs. 800 Crore will used to clear the debt of Ola Electric.
  • Ola Electric will spend nearly Rs. 350 Crore on organic growth initiatives and general corporate purposes.

Ola Electric IPO Important Updates

Here we are sharing the important updates related to the IPO of OLA Electric. You can check these updates and make your well-assessed and well-informed decision.

  • Issue Size of OLA IPO– The issue size of OLA IPO is Rs. 5500 Crore fresh issue. Ola Electric will also issue 9.52 Crore shares for sale in the IPO.
  • Pre-Application– You can pre-apply for the Ola electric shares 2 days before the start of the subscription period.

The shares of Ola Electric will be listed on the Bombay Stock Exchange and the National Stock Exchange of India. Link Intime India Pvt Ltd is the registrar for the OLA IPO. You can check Link Intime’s official website to get the Ola IPO updates. Lot size, minimum order quantity, and open and close dates for Ola shares are not finalized yet, so you have to wait for the official announcement from OLA Electric. We will also update our page as soon as we get the official confirmation from Ola Electric.  

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