The Ola Electric Mobility Ltd. debut on the National Stock Exchange was a tepid one. The stock is quoted on the National Stock Exchange at a price of Rs 76 per share, against the issue price of Rs 76 per share.
On the Bombay Stock Exchange, shares of Ola Electric were listed for Rs 75.99 each, with a 0.01 per cent discount.
Ola Electric Mobility's share price touched a day-high price of Rs 91.20 per share on the National Stock Exchange.
Ola electric & mobility |
Ola Electric mobility IPO
The first public offering will be priced between Rs 72 and Rs 76 per share. Regular investors are required to invest a minimum of Rs14,820, as the minimum lot size is 195 shares.
Smaller non-institutional investors (sNII) must invest a minimum of 207,480, or 14 lots (2,730 shares). For larger non-institutional investors (bNII), 68 lots (13,260 shares) or Rs 1,007,760 is the minimum investment.
For the IPO, funds were raised in two stages. The first part involved making a fresh offering of 72.37 crore shares, which generated revenue of Rs 5,500 crore. In the second stage, there is an offer to sell 8.49 crore shares, or a total of Rs 645.56 crore.
Ola's financial
Revenue from operations climbed by more than seven times to Rs 2,630.93 crore for the fiscal year 2022-2023 from Rs 373.42 crore the previous year.
The operating revenue for the three months that concluded on June 30, 2023, was Rs 1,242.75 crore.
Ola's pre-IPO valuation
Building vertically integrated technologies and manufacturing capabilities for EVs and key EV components, such as cells, is Ola Electric, a company whose valuation was last estimated at USD 5.5 billion. It produces EVs and essential EV parts like motors and battery packs at Ola Futurefactory, its Krishnagiri manufacturing plant.
Additionally, the company has been granted approval for two production-linked schemes in India: one for advanced cell chemistry batteries and the other for manufacturing products related to advanced automotive technology.
