Ola Electric IPO likely on August 2: Proposed timeline, issue size and all you need to know

Ola Electric IPO is likely to open for subscription on August 2, with the anchor book launching on August 1, a media report said on Friday. The initial public offering will conclude on August 6.

Ola Electric IPO: Proposed timeline

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

Ola Electric Mobility's proposed ₹5,500 crore IPO received Securities and Exchange Board of India's (SEBI's) approval on June 10.

The proposed initial share sale consists of a fresh issuance of equity shares up to ₹5,500 crore and an offer-for-sale (OFS) component of 9.52 crore shares by promoters and investors, as per the draft red herring prospectus (DRHP).

Ola Electric Mobility Ltd (OEML) intends to use ₹1,226.43 crore out of the IPO proceeds for capacity expansion of its cell manufacturing plant to 6.4 gigawatt hours (GWH) from 5 GWh.

The EV maker is also looking to utilise ₹1,600 crore from fresh issue on research and product development (R&D), while another ₹800 crore to repay debts.

On the products front, Ola Electric announced a line-up of electric motorcycles—Adventure, Roadster, Diamondhead, and Cruiser—on August 15, 2023. It expects to begin delivery of the motorcycles in the first half of fiscal 2026 (H1 FY26).

On future product launch plans, the company said, "We plan to further launch affordable mass-market Ola S1 models, including E2Ws (electric two-wheelers) targeted at the personal, business-to-business and last-mile delivery segment by the first half of fiscal 2025."

It further said, "We also plan to commence delivery of our motorcycles, which we announced on August 15, 2023, by the first half of fiscal 2026. We plan to further expand our product portfolio to also cover mass market motorcycles to capture a broader base of consumers across different product types and price points in the long run."