• Price Band of Rs. 72/- – Rs. 76/- per equity share bearing face value of ₹10/- each (“Equity Shares” or “Securities”)
• Bid/Offer Opening Date – Friday, August 02, 2024 and Bid/Offer Closing Date – Tuesday, August 06, 2024.
• Minimum Bid Lot is 195 Equity Shares and in multiples of 195 Equity Shares thereafter.
• The Floor Price is 7.2 times the face value of the Equity Share and the Cap Price is 7.6 times the face value of the Equity Share

MUMBAI, JULY 29, 2024 (GPN): Bengaluru-based and Softbank-backed electric vehicle maker Ola Electric Mobility Limited, a pure EV player in India building vertically integrated technology and manufacturing capabilities for EVs and EV components, has fixed the price band of Rs.72/- to Rs. 76/- per Equity Share of face value Rs. 10/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, August 02, 2024, for subscription and close on Tuesday, August 06, 2024. Investors can bid for a minimum of 195 Equity Shares and in multiples of 195 Equity Shares thereafter.

The IPO consists of fresh issue of equity shares aggregating up to Rs 55,000 million and an offer for sale (OFS) of up to 84,941,997 equity shares by the Promoter Selling Shareholder, the Promoter Group Selling Shareholder and the Investor Selling Shareholders. The offer also includes a reservation for eligible employees

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited, and BOB Capital Markets Limited are the book running lead managers and Link Intime India Private Limited is the registrar to the offer. The Equity Shares are proposed to be listed on BSE and NSE.

The Offer is being made through the Book Building Process, wherein not less than 75% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders.

The company’s revenue from operations increased to Rs 5,009.8 crore in FY24 from Rs 2,630.9 crore in FY23. It recorded a loss of Rs 1,584.4 crore compared with Rs 1,472 crore in FY23.

RHP:  https://investmentbank.kotak.com/downloads/ola-electric-mobility-limited-RHP.pdf