The much-anticipated Ola Electric IPO is almost here.
According to reports, the IPO of Bhavish Aggarwal-led Ola Electric will open on August 2 for retail investors and will be available until August 6.
For anchor investors, the IPO will open a day earlier, on August 1.
However, no official statement has been released by Ola Electric on this matter yet.
Listing and Share Information
Ola Electric is expected to be listed on the Bombay Stock Exchange and the National Stock Exchange on August 9.
The IPO will include a fresh issue of shares worth Rs 5500 crore and 95.2 million shares under an offer for sale.
Founder Bhavesh Aggarwal will sell 47.30 million shares, while early investors such as AlphaWave, Alpine, DIG Investment,
and Matrix will sell a combined total of 47.89 million shares.
Roadshow and Valuation
Ola Electric is planning a roadshow on July 29 to promote the IPO.
The company’s valuation was $5.4 billion during its last funding round in September 2023, and it is estimated to be around $4.24 billion for the IPO.
Investment Banks and Market Impact
Ola Electric filed its IPO papers with SEBI on December 22, 2023, and received approval last month.
The investment banks involved include Kotak Mahindra Capital, Goldman Sachs, Axis Capital, ICICI Securities, BofA Securities, Citi, Bob Caps, and SBI Caps.
This IPO is set to be the largest of any new-age company in 2024 and will make Ola Electric India’s first startup to go public.
However, the company faces significant competition from established players like TVS Motors, Bajaj Auto, and Ather.
