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Ola Electric, India's leading electric two-wheeler manufacturer, has launched its highly anticipated initial public offering (IPO). The company aims to raise up to ₹5,500 crore through a fresh issue of shares and ₹645.6 crore through an offer for sale by existing shareholders. The IPO is priced in a band of ₹72-76 per share and will remain open from August 2-6, 2024.
As the first pure electric vehicle company to go public in India, Ola Electric's IPO has generated significant interest from investors. The company has already raised ₹2,763 crore from anchor investors, including prominent domestic and foreign institutional buyers. Funds raised will be used to expand manufacturing capacity, repay debt, and invest in research and product development.
Ola Electric has shown strong revenue growth, increasing from ₹2,630.9 crore in FY23 to ₹5,009.8 crore in FY24. However, the company remains unprofitable, reporting a loss of ₹1,584.4 crore in FY24. CEO Bhavish Aggarwal emphasized the company's consistent growth trajectory and improving gross margins, though he did not provide a timeline for profitability.
The IPO comes at a time of growing adoption of electric vehicles in India. Ola Electric currently leads the electric two-wheeler market with a 42.65% share. The company's performance in the public markets could pave the way for other EV startups to consider going public.
While investor enthusiasm is high, some analysts have raised concerns about Ola Electric's valuation and path to profitability. The success of this IPO could have broader implications for India's EV industry and startup ecosystem.
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While Ola's IPO prospects remain uncertain, investors eager to gain exposure to the ride-hailing and electric vehicle sectors don't have to wait. At Linqto, we offer members access to interests in promising pre-IPO private companies like Ola, potentially allowing you to benefit from their growth before they go public. Our platform provides opportunities to diversify your portfolio with lower minimum investments in emerging industry leaders, including those in the transportation and technology sectors.
*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.
