Ola Electric IPO: Ola is set to become the country’s first listed electric vehicle company with an IPO. It is facing strong challenge from Ather Energy, Bajaj and TVS Motor Company.

Ola Electric IPO: The IPO of Ola Electric was eagerly awaited for a long time. Now the IPO date of this company led by Bhavish Aggarwal has been announced. According to sources, the anchor book of Ola Electric IPO will open on August 1. In addition, subscription to the issue will be open from 2nd August to 6th August. The SoftBank-backed company is seeking to achieve a valuation of around $4.5 billion through this IPO. The listing of the IPO is likely to take place on August 9.

It will become the country’s first listed electric vehicle company
After the successful completion of this IPO, Ola will become the first electric vehicle company in the country to be listed on the stock market. Based on sources, a Business Standard report claims that the IPO will be valued at around Rs 6,000 crore. These will have fresh issues as well as offers for sale. In the last funding round, the company was valued at $5.5 billion. However, the IPO is going to list at $4.5 billion at an 18 percent lower valuation.

SEBI gave its approval for the IPO on June 20
Ola Electric is facing stiff competition from Ather Energy, Bajaj and TVS Motor Company. Ola Electric is yet to confirm the IPO dates. The company submitted the IPO documents (DRHP) to market regulator SEBI on December 22, 2023. Sebi had given its go-ahead for the IPO on June 20 this year. Through this IPO, Bhavish Agarwal will launch approximately 4.7 crore shares in the market. Apart from this, many large shareholders will also sell their shares in it.

The proceeds from the IPO will be used for these purposes
According to the IPO document, out of the money raised, Rs. 1,226 crore will be used in capital expenditure. Apart from this, Rs 800 crore will be spent on loan repayment, Rs 1600 crore on research and development and Rs 350 crore on future plans of the company. Last year, Ola Electric earned around Rs. Funds of 3200 crores were received. The company’s factory is in Tamil Nadu.

Ola Electric plans to launch its first electric motorcycle in the first half of 2026. Recently the company has teased the battery pack of its upcoming electric bike, which has increased the curiosity about their new product.Currently, the electric motorcycle segment has a limited number of electric bikes available from only a few startup companies, making it the right time for Ola to enter the motorcycle segment. Ola already has a large number of customers who know their reliability and quality.