Big News: OLA Cabs IPO Coming Soon!

Exciting news for investors! OLA Cabs (Ola Electric Mobility Limited) is set to launch its Initial Public Offering (IPO) soon. This is a big opportunity for those looking to invest in one of India’s leading ride-hailing companies.

Key Details About OLA Cabs IPO

OLA Cabs’ IPO is a book-built issue. This means the final issue price will be determined by the demand from investors. The IPO comprises two parts:

• Fresh Issue: ₹5,500.00 crore worth of new shares.
• Offer for Sale: 9.52 crore shares from existing shareholders.

Important Dates

As of now, the exact dates for the IPO have not been announced. Keep an eye out for updates to know when the IPO opens and closes.

Price Band Of OLA Cabs IPO

The price band, which is the range within which you can bid for the shares, is also yet to be announced. This will be disclosed closer to the IPO date.

Who is Managing the IPO?

The IPO is being managed by some of the top financial institutions:

• Kotak Mahindra Capital Company Limited
• Bofa Securities India Limited
• Axis Capital Limited
• SBI Capital Markets Limited

The registrar for the issue is Link Intime India Private Ltd.

OLA Cabs IPO Details

Here are the specifics you need to know:

• IPO Date: To be announced
• Listing Date: To be announced
• Face Value: ₹10 per share
• Price: To be announced
• Lot Size: To be announced
• Total Issue Size: To be announced
• Fresh Issue Size: ₹5,500.00 crore
• Offer for Sale: 95,191,195 shares of ₹10 each
• Issue Type: Book Built Issue IPO
• Listing At: BSE, NSE

Reservation for Investors

The IPO will have a reservation for different types of investors:

• Qualified Institutional Buyers (QIB): Not less than 75% of the Net Issue
• Retail Investors: Not more than 10% of the Net Issue
• Non-Institutional Investors (NII or HNI): Not more than 15% of the Net Issue

Promoter Holding

The promoter of OLA Cabs is Bhavish Aggarwal. Before the issue, the promoter holds 85.77% of the company’s shares. The post-issue holding details will be available after the IPO.

About OLA Electric Mobility Limited

OLA Electric Mobility Limited, incorporated in 2017, is known for manufacturing electric vehicles (EVs) and key EV components like battery packs, motors, and vehicle frames. Their products include the Ola S1 Pro, Ola S1, Ola S1 Air, and Ola S1 X+ scooters. Recently, they announced new models like Diamondhead, Adventure, Roadster, and Cruiser motorcycles.

The company has a strong direct-to-customer (D2C) network across India with 935 experience centres and 414 service centres. They also export a significant portion of their 2-wheeler EVs to Africa, Latin America, and Southeast Asia.

Financial Information OLA Cabs IPO

Here’s a snapshot of OLA Electric Mobility Limited’s financial performance:

• Assets: ₹5,711.12 crore as of June 30, 2023
• Revenue: ₹1,278.68 crore for the quarter ended June 30, 2023
• Profit After Tax: -₹267.16 crore for the quarter ended June 30, 2023

Objectives of the Issue OLA Cabs IPO

The funds raised from the IPO will be used for several purposes:

• Expansion of the cell manufacturing plant.
• Repayment or pre-payment of debts.
• Investment in research and product development.
• Funding organic growth initiatives.
• General corporate purposes.

Conclusion

The upcoming OLA Cabs IPO is a significant event for investors looking to capitalize on the growth of India’s ride-hailing and EV industry. With substantial plans for expansion and development, OLA Cabs is poised to make a strong impact in the market.

Stay tuned for more updates on the exact dates and price band. This is your chance to invest in a company that is shaping the future of mobility in India and beyond. Happy investing!