OLA Electric IPO Review, Date, Price, GMP

OLA Electric is a leading vehicle (EV) company, in India specializing in developing technology and manufacturing EVs and their components, including batteries. They produce EVs and essential components like battery packs, motors, and vehicle structures at their state-of-the-art facility called Ola Futurefactory. Their main goal is to take advantage of the growing trend towards mobility in India and potentially expand into markets, in the future.

OLA Electric has started delivering their first EV model the Ola S1 Pro, followed by the Ola S1, Ola S1 Air, and Ola S1 X+. They have also introduced electric scooter models, like the Ola S1 X (2 kWh), and Ola S1 X (3 kWh) along with a range of motorcycles including Diamondhead, Adventure, Roadster, and Cruiser. The plan is to begin deliveries of the Ola S1 X (2 kWh), and Ola S1 X (3 kWh), in the first half of Fiscal 2025, and launch the motorcycles in the first half of Fiscal 2026.

OLA Electric conducts research and development(R&D) projects, in India, the United Kingdom (UK), and the United States (US) with a focus on creating and innovating electric vehicle products and essential components, like battery packs, motors, and vehicle frames. 

OLA Electric runs a network of 935 experience centers and 414 service centers, in India as of October 31, 2023. These include service centers located within experience centers. They also have an official Ola Electric website.

OLA Electric IPO Complete Details:

OLA Electric IPO Timetable:

Company Financial Details:

AS OF NOW, the GMP Of OLA Electric is Around 13 Rs.

Objects Of Issue:

1. Capital expenditure to be incurred by our subsidiary, OCT, for expanding the capacity of our cell manufacturing plant from 5 GWh to 6.4 GWh, classified as Phase 2 under the expansion plan (the “Project”);

2. Repayment or pre-payment, in full or part, of the indebtedness incurred by our subsidiary, OET;

3. Investment in research and product development;

4. Expenditure for organic growth initiatives; and

5. General corporate purposes.

Promoters:

• BHAVISH AGGARWAL

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