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OLA Electric IPO
Price Band
₹72.0–76.0
Issue Size
₹6145.56 Cr
Lot Size
195 shares
Min Investment
₹14,820
GMP
₹-3.0 (-3.95%)
Issue Price
₹76.0
OLA Electric IPO AI Summary
- OLA Electric IPO is listed on BSE, NSE in the 2/3 Wheelers sector.
- Price band: ₹72.0–₹76.0 per share, lot size 195 shares (min. investment ₹14,820).
- Subscription window: 02 Aug–06 Aug 2024, listing on 09 Aug 2024.
- Current GMP is ₹-3.0 (-3.95%), an estimated listing price of ₹73 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
OLA Electric IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 06 Aug 2024 — not a current signal.
7 of 13 reviewers say Neutral
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
OLA Electric IPO Grey Market Premium (GMP) Today
GMP
₹-3.0
GMP %
-3.95%
Est. Listing
₹73.0
Updated: 25 Jul 2026 14:04
About the Company
Founded in 2017, Ola Electric Mobility Limited is an electric vehicle company that primarily manufactures electric vehicles and certain core components for electric vehicles such as battery packs, motors, and vehicle frames at the Ola Futurefactory. Since August 2021, the company has launched seven new products and announced four. The Ola S1 Pro, the first EV model, was delivered in December 2021, followed by the Ola S1, Ola S1 Air, Ola S1 X and Ola S1 X+ in the following years. On August 15, 2023, the company announced new EV models and a range of motorcycles including Diamondhead, Adventure, Roadster, and Cruiser. As of October 31, 2023, the company operates its "omnichannel distribution network across India, comprising 870 experience centers and 431 service centers (including 429 service centers in experience centers), in addition to the Ola Electric website. In FY 2023, around 75% of 2W exports from India were destined for Africa, LATAM, and South East Asia, while teh domestic supply of E2W was limited. The business model relies on three key scalable platforms: The R&D and technology platform with in-house design and development of EV technologies and components, The adaptable production and supply chain platform and The D2C omnichannel sales platform As of March 31, 2024, the company had 959 employees (including 907 permanent employees and 52 freelancers) who focus on research and development. They are dedicated to product development, vehicle and software development, vehicle design, and cell development.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 7,735.41 | 5,573.17 | 5,395.86 | 2,112.64 |
| Total Income | 5,243.27 | 2,782.70 | 456.26 | 106.08 |
| Profit After Tax | -1,584.40 | -1,472.08 | -784.15 | -199.23 |
| NET Worth | 2,019.34 | 2,356.44 | 3,661.45 | 1,970.62 |
| Reserves and Surplus | -2,882.54 | -1,380.03 | -68.83 | 1,999.30 |
| Total Borrowing | 2,389.21 | 1,645.75 | 750.41 | 38.87 |
Key Ratios
EPS
₹-4.30
NAV
₹5.54
RoNW
-78.46%
P/B Value
13.72
P/E Ratio
-17.69
Market Cap
₹33521.75 Cr
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Hero Motocorp Ltd. | 892.08 | 20.98% | 27.16 | 187.36 | 187.04 |
| Bajaj Auto Ltd. | 1037.41 | 26.61% | 29.95 | 272.7 | 272.7 |
| Eicher Motors Ltd. | 659.06 | 22.17% | 36.78 | 146.18 | 145.92 |
| Tvs Motor Company Ltd. | 158.1 | 23.68% | 69.69 | 35.5 | 35.5 |
| Ola Electric Mobility Limited This IPO | 5.54 | -78.46% | — | -4.35 | -4.35 |
Promoters
Bhavish Aggarwal
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Capital expenditure to be incurred by our Subsidiary, OCT for the Project 1,227.64 2 Repayment or pre-payment, in full or part, of the indebtedness incurred by our Subsidiary, OET 800.00 3 Investment into research and product development 1,600.00 4 Expenditure to be incurred for organic growth initiatives 350.00 5 General corporate purposes 1,297.42
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income increased from ₹456.26 Cr in the period ending 31 Mar 2022 to ₹2,782.70 Cr by 31 Mar 2023, and further rose to ₹5,243.27 Cr by 31 Mar 2024. This shows a strong upward trend in revenue over the periods analyzed.
Profit Trend
The profit after tax showed a loss of ₹784.15 Cr in the period ending 31 Mar 2022, which improved slightly to a loss of ₹1,472.08 Cr by 31 Mar 2023, and further increased to a loss of ₹1,584.40 Cr by 31 Mar 2024. This indicates a worsening loss over the analyzed periods.
Valuation
Ola Electric's implied P/E ratio at the issue price is -17.69, compared to peers trading at P/E ratios ranging from 27.16 to 69.69. This indicates that Ola Electric is priced at a negative trailing earnings multiple, which is atypical in comparison to its peers.
Grey Market Premium, Explained
The grey market premium (GMP) is an unofficial indicator of the expected listing price of an IPO. It reflects the demand for the shares before they are officially listed on the stock exchange. A positive GMP suggests strong demand, while a negative GMP indicates weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as the company's growth potential, market conditions, and personal financial goals.
Who May Want to Wait
Investors who are risk-averse or unable to tolerate potential losses may want to avoid this IPO, particularly given the company's current financial losses and negative earnings.
Listing Gains — The Risk
Listing-day gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the shares. Investors should be aware that fluctuations in share prices can occur immediately after listing.
This evaluation is generated from OLA Electric's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is OLA Electric IPO GMP today?
OLA Electric IPO GMP today is ₹-3.0 (-3.95%), indicating an estimated listing price of ₹73. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of OLA Electric IPO?
The price band of OLA Electric IPO is ₹72.0–₹76.0 per share.
When does OLA Electric IPO open and close?
OLA Electric IPO opens on 02 August 2024 and closes on 06 August 2024.
When does OLA Electric IPO list on the stock exchange?
OLA Electric IPO listed on 09 August 2024 at ₹73.0.
What is the lot size for OLA Electric IPO?
The lot size for OLA Electric IPO is 195 shares, requiring a minimum investment of ₹14,820.
What is the price band for the IPO?
The price band for the IPO is ₹72.0 to ₹76.0.
What is the minimum investment required?
The minimum investment required is ₹14,820.0.
What is the lot size for this IPO?
The lot size for this IPO is 195 shares.
When is the listing date for the IPO?
The listing date for the IPO is August 9, 2024.
What does GMP mean?
GMP stands for grey market premium, which indicates the expected demand and price of the shares before they are officially listed.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
02 Aug 2024
Close
06 Aug 2024
Allotment
07 Aug 2024
Listing
09 Aug 2024
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