Ola Electric has made major strides towards its IPO, raising billions from investors and making bold claims about its electric two-wheeler offerings. With the recent launch of its electric motorcycle, the company has seen a surge in its share prices and continues to make moves towards establishing its position in the market. However, it hasn't been all smooth sailing for the company, as it has faced criticism from MapmyIndia's CEO over its mapping technology and still faces challenges from competitors like Ather Energy and major international players like Mahindra & Mahindra. As the electric mobility industry continues to grow, Ola Electric is positioning itself for success.
In what has been seen as a stellar debut, Ola Electric has seen its stock soar by 71% in just three days since its listing on the bourses. The market capitalisation has grown to over ₹51,000 crore, thanks to an IPO that mostly met expectations, according to industry experts. In fact, as leaders in the electric two-wheeler sector, holding a 35% market share, exciting times are ahead for investors in the company.
Ola Electric has raised a whopping sum of Rs 10,000 crore from various anchor investors as it gears up for its IPO. This has surpassed the previous record set by Oil-to-telecom conglomerate Reliance Industries Ltd (RIL), which had raised Rs 9,448 crore in 2016. The electric vehicle industry is witnessing a major boost, with companies like Ather Energy and TVS launching new models and the government's push towards adopting EVs. Ola Electric's IPO has set a new benchmark in the field, with its plans to use the funds for its gigafactory and R&D.
Ola Electric, the first Indian electric two-wheeler manufacturer to go public, is gearing up to launch its IPO next month. The IPO will include a fresh issue of shares worth ₹5,500 crore and an offer for sale of 645.56 equity shares. Ola Electric is expected to have a GMP of 16% before its opening, with the IPO set at a price band of ₹72-76 per share. The company's shares will be listed on both the BSE and NSE on August 9, marking a significant milestone in the Indian electric vehicle industry.