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Ola Electric Mobility

ListedAutomobile2024

India's first pure-play EV two-wheeler maker to list. A flat debut followed by a volatile post-listing journey amid profitability concerns.

Return from IPO
-37%
₹76 → ₹48
Issue Price
₹76
Listing Price
₹76
Current
₹48
52W High
₹158
52W Low
₹43
Listing Gain
0.0%

Company Overview

Introduction

Ola Electric is a vertically integrated electric two-wheeler manufacturer, also developing cells and battery technology in-house.

Business Model

Sells electric scooters direct-to-consumer and online, aiming to integrate cell manufacturing to control costs across the EV value chain.

Industry Analysis

India's EV two-wheeler market is growing fast but is fiercely competitive and sensitive to subsidy policy.

Promoters
Bhavish Aggarwal

IPO Details

Issue Size
₹6,146 Cr
Price Band
₹72 – ₹76
Lot Size
195 shares
Open → Close
02 Aug 2024 – 06 Aug 2024
Listing Date
09 Aug 2024
Listing Gain
0.0%
Subscription (times)
4.3x
Overall
5.5x
QIB
2.5x
NII
4.0x
Retail

Market Performance

Current Price
₹48
Market Cap
₹21,200 Cr
P/E Ratio
—
Dividend Yield
0%
ROE
-28.8%
ROCE
-15%

Financials

Revenue CAGR +266.0%
Fiscal YearRevenueProfitEBITDANet WorthDebt
FY22₹373 Cr₹-784 Cr₹-650 Cr₹2,900 Cr₹1,300 Cr
FY23₹2,631 Cr₹-1,472 Cr₹-1,100 Cr₹3,800 Cr₹2,100 Cr
FY24₹5,010 Cr₹-1,584 Cr₹-1,200 Cr₹5,500 Cr₹2,600 Cr

All figures in ₹ crore.

Price History

IPO Price vs Current

Returns

Key Numbers

GMP
₹1
Issue Size
₹6,146 Cr
Return from IPO
-36.8%
Listing Gain
0.0%

News & Updates

  • Ola Electric narrows losses but misses delivery targets

    Moneycontrol

    30 May 2025

  • Service-network complaints weigh on sentiment

    Mint

    12 Mar 2025

SWOT Analysis

Strengths
  • • First-mover scale in EV two-wheelers
  • • Vertical integration ambition
Weaknesses
  • • Persistent losses
  • • Service and quality issues
Opportunities
  • • In-house cell manufacturing
  • • Rising EV adoption
Threats
  • • Subsidy cuts
  • • Legacy OEMs entering EVs aggressively

Figures are illustrative sample data for demonstration — not investment advice.