🚀 Ola Electric IPO: Ready to Hit Dalal Street!Ola Electric is gearing up for its highly anticipated IPO, opening on August 2nd. Let’s take a closer look at what makes this a significant event:Type of Issue:↳Total IPO size: ₹6,145.56 crores↳Fresh issue: 72.37 crore shares worth ₹5,500.00 crores↳Offer for sale: 8.49 crore shares worth ₹645.56 croresAbout the Business:↳Founded in 2017, Ola Electric specializes in manufacturing electric vehicles and core components like battery packs, motors, and vehicle frames at the Ola Futurefactory.Product Portfolio Expansion:Since August 2021, Ola has launched seven new products and announced four more.Delivered the first EV model, Ola S1 Pro, in December 2021, followed by Ola S1, Ola S1 Air, Ola S1 X, and Ola S1 X+.Price Band:↳Set between ₹72 and ₹76 per share.↳Minimum application lot size: 195 shares, requiring a minimum investment of ₹14,820 for retail investors.↳Proceeds Utilization:↳Capital expenditure for expanding capacity.↳Repayment or partial pre-payment of debt.↳Investment in research and product development.↳Expenditure on organic growth initiatives.↳General corporate purposes.Important Dates:↳Issue opens: August 2nd↳Ola Electric is paving the way for the future of mobility! What’s your take on this exciting IPO? Let us know in the comments!📢 Follow Us for More Insights!👉 Disclaimer: Investments in securities market are subject to market risks. Read all the related documents carefully before investing #smc #smcglobal #investing #olaelectric #ipo #ev
Posted On: 30 Jul 2024 3:45 PM
