Ola Electric’s Rs 6,145 Crore IPO Soars with 4.27x Subscription: Major Investors Back Electric Revolution

Ola Electric Mobility’s IPO, valued at Rs 6,145 crore, was highly successful, receiving 4.27 times more subscription than available shares on the final bidding day. The offer, priced between Rs 72-76 per share, includes a fresh issue of Rs 5,500 crore and an Offer for Sale (OFS) of 8,49,41,997 shares, with founder Bhavish Aggarwal selling 3.8 crore shares. The company plans to use the funds for expanding its cell manufacturing capacity, research and development, debt repayment, and organic growth. Anchor investors have already committed Rs 2,763 crore to the offer, with major financial institutions involved.

5 Major Key Points:

1. Ola Electric’s IPO was oversubscribed by 4.27 times on the final day.
2. The offer includes a fresh issue of up to Rs 5,500 crore and an OFS of up to 8,49,41,997 shares.
3. The IPO price band is Rs 72-76 per share.
4. Proceeds will be used for expanding cell manufacturing, R&D, debt repayment, and growth initiatives.
5. Major anchor investors have pledged Rs 2,763 crore, with significant involvement from top financial institutions.