Read on the application
Ola Electric IPOThe wait for Ola Electric Mobility Limited’s most awaited Initial Public Offering (IPO) is coming to an end very soon. Indeed, the company has applied to SEBI for an IPO. This Rs. 5,500 crore IPO, the company raised the capacity of its cell manufacturing plant by Rs. 1,226.43 crore is planned to be spent. The company is planning to increase the capacity of the plant from five gigawatts to 6.4 gigawatts.
What is the company’s plan?
According to documents filed by Ola Electric Mobility Ltd with capital markets regulator Securities and Exchange Board of India (SEBI) last week, the IPO raised Rs. 1,600 crore will be spent on research and product development, while another Rs. 800 crore will be spent. Debt. will be levied for payment.
Who is selling the shares?
CEO of the company under the IPO Bhavish Agarwal 47.4 million or will sell 47 million shares. Besides Ola Electric founder Bhavish Agarwal, investors Alpha Web Venture II, DIG Investment IV AB, Internet Fund III Pte Ltd, MacRitchie Investment Ltd, Matrix Partner India Investments III, LLC and SVF II Ostrich (DE) LLC are also selling stakes. Apart from this, another investor Techne Private Ventures XV, Ltd is also selling stake.
The company announced this: Ola Electric Mobility (OEM) announced the launch of electric motorcycles Cruiser, Adventure, Roadster and Diamondhead on August 15, 2023. Deliveries of the motorcycle are expected to begin in the first half of FY 2025-26.
How much income: In the previous financial year (2022-23), Ola Electric’s total revenue grew nearly six-fold to Rs. 2,782 crores. In the financial year 2021-22, the total revenue of the company’s transportation business is Rs. 456 crores. According to the data, Ola Electric dominates the electric two-wheeler segment in India with a market share of 32%. Let us tell you that the IPO of the two-wheeler company is going to be launched after about 15 years. Bajaj Auto’s IPO came in 2008. Through this the company entered the stock market.