Ola Electric IPO opens for subscription: Check issue size, price band, key dates and more

The mega initial public offering of electric two-wheeler company Ola Electric Mobility opened for subscription on Friday, August 2. The IPO, which has a price band of ₹72-₹76 per share, will conclude on August 6.

The ₹6,145.56-crore initial share sale is a mix of fresh issuance of shares up to ₹5,500 crore and an offer-for-sale (OFS) component of 8.49 crore shares worth ₹645.56 crore by promoters and investors.

Under the OFS, Ola Electric founder and Chief Executive Officer (CEO) Bhavish Aggarwal would sell almost 3.8 crore shares.

Ola Electric collects ₹2,763 crore from anchor investors

Prior to the IPO, Ola Electric mobilised ₹2,763 crore in the anchor round which saw a participation from investors like foreign portfolio investors (FPIs), insurance companies and domestic mutual funds.

According to a circular on the NSE's website, anchor investors such as SBI Mutual Fund (MF), Nippon India MF, Sundaram MF, Bandhan MF, HDFC MF, Kotak Mahindra Life Insurance Company, Bharti Axa Life Insurance Company, Government Pension Fund Global, Goldman Sachs (Singapore) Pte Ltd, Fidelity, and Nomura India Investment Fund have been allotted equity shares.

The electric two-wheeler marker has allotted 36.35 crore shares to 84 funds at the upper price band of ₹76 apiece worth ₹2,763 crore.

The IPO proceeds will boost Ola Electric's investment in capacity expansion of its cell manufacturing facility, research and development, debt repayment, and organic growth initiatives.

Ola Electric IPO: Timeline

• Bidding dates: August 2 to August 6
• Allotment finalisation: August 7
• Refund initiation: August 8
• Demat transfer: August 8
• Listing: August 9

About Ola Electric

Established in 2017, Ola Electric Mobility Limited is into the manufacturing of electric vehicles (EVs) and EV components such as motors, battery packs, and vehicle frames. In the financial year 2022-23, Ola Electric reported the highest revenue among all domestic electric two-wheeler (E2Ws) original equipment manufacturers (OEMs) from E2W sales.

Ola Electric's product portfolio includes EV scooters like the Ola S1 Air, S1 Pro, S1 X+, S1 X (2 kWh), S1 X (3 kWh), and S1 X (4 kWh). It has also announced an E2W motorcycle lineup comprising the Roadster, the Adventure, the Cruiser, and its flagship motorcycle, the Diamondhead. The delivery is expected to commence in the first half of FY26.