OLA Electric
OLA Electric is a leader in India’s EV sector, known for its comprehensive technology and manufacturing capabilities for electric vehicles and critical components, including cells. At its state-of-the-art Ola Futurefactory, the company produces EVs and essential parts such as battery packs, motors, and vehicle frames.
In Fiscal Year 2023, OLA Electric achieved the highest revenue among all Indian electric two-wheeler (E2W) original equipment manufacturers (OEMs) from E2W sales. Impressively, within nine months of launching its first EV scooter in December 2021, OLA Electric became the top-selling E2W brand in India, as evidenced by monthly E2W registrations on the VAHAN Portal of the Ministry of Road Transport and Highways.
As of October 31, 2023, OLA Electric operates an extensive direct-to-customer (D2C) omnichannel distribution network. This includes 935 experience centers and 414 service centers (with 410 of these service centers located within the experience centers) across India, supported by the Ola Electric website.
OLA Electric IPO Details
| Signature Global IPO Details | ||
|---|---|---|
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OLA Electric IPO Dates |
Coming soon |
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OLA Electric Issue Price |
Coming soon |
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Fresh issue |
INR 5,500 crore |
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Offer For Sale |
9,51,91,195 shares |
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Total IPO Size |
Coming soon |
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Minimum bid (size) |
Coming soon |
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Face Value |
INR 10 per share |
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Retail Allocation |
10% |
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Listing On |
NSE, BSE |
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OLA Electric Financial Performance
| Signature Global Financial Performance | ||||
|---|---|---|---|---|
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FY21 |
FY22 |
FY23 |
Q1 FY 2024 |
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Revenue |
0.86 |
373.42 |
2,630.93 |
1,242.75 |
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Expenses |
284.90 |
1,173.81 |
3,883.38 |
1,460.72 |
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Net income |
(199.23) |
(784.15) |
(1,472.08) |
(267.16) |
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Margin (%) |
– |
(209.99) |
(55.95) |
(21.50) |
Figures in INR Crore unless specified otherwise