Ola Electric IPO

OLA Electric

Ola Electric IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
To be announced------
Issue SizeIPO Doc
5500.00Cr
DRHP PDF

About the company

OLA Electric manufactures electric vehicles (EVs) and core EV components in India. The company develops comprehensive technology and manufacturing capabilities for EVs and EV components, including battery packs, motors, and vehicle frames at the Ola Futurefactory. Its core business revolves around seizing opportunities arising from the demand for EVs in India. They also aim to explore potential exports of their EVs in selected international markets. Since its initial product announcement in August 2021, OLA Electric has introduced a total of four products and revealed plans for six additional ones. The Ola S1 Pro, their first EV model, began deliveries in December 2021, followed by subsequent models such as the Ola S1, Ola S1 Air, and Ola S1 X+. The company also announced new EV scooter models, Ola S1 X (2 kWh) and Ola S1 X (3 kWh), along with a lineup of motorcycles named Diamondhead, Adventure, Roadster, and Cruiser, on August 15, 2023. Deliveries for these new models are planned in Fiscal year 2025 and 2026. Ola Electric is also setting up its EV hub in Krishnagiri and Dharmapuri districts in Tamil Nadu, India, which includes the Ola Futurefactory, Ola Gigafactory, and co-located suppliers in Krishnagiri district.;
Founded in
2017
Managing director
Mr. Bhavish Aggarwal
Parent organisation
OLA Electric

Strength and risks

Strengths
Risks
OLA Electric is a leading player in India's fast-growing electric two-wheeler (E2W) market. The company anticipates E2W penetration growth from 4.5% in 2023 to 41-56% in 2028.
OLA Electric led India’s E2W market with 31% of total E2W registrations in September 2023.
Ola Electric’s in-house R&D spans India, the UK, and the US, focusing on EV technologies and core components. The company’s R&D efforts concentrate on five key technologies: software, electronics, motor and drivetrain, cells and battery packs, and manufacturing technology.
Ola Futurefactory is India's largest automated E2W manufacturing plant, with an installed capacity of one million units per year (Sep 2023).
Ola Electric’s key business strategy centers on platform-focused product development, utilizing shared elements like a modular electric powertrain with a battery pack, BMS (battery management system), motors, power electronics module, and software. This approach reduces both estimated product development costs and time to market for new EV models.
The company has a digitally driven D2C (direct to customer) sales and service model. This allows cost advantages, low vehicle inventories at experience centers and centralized distribution. The system enhances demand forecasting and facilitates precise supply orders and production schedules.
According to the Redseer Report, Ola Electric is the only EV manufacturer in India that is a beneficiary of two Government of India PLI schemes: the Automobile PLI Scheme and the Cell PLI Scheme.

Financials

*All values are in Rs. Cr
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