In this IPO season of 2024 , there is new company which is listed on share market is Ola Electric.We have done our research on Company fundamentals and GMP. Ola Electric IPO Update, this article provides details about listing gain as of now and also company numbers.
We went through company website to study more on them.As per site “We are an EV company building towards a brighter, safer and greener future. We are building towards making India the world’s EV hub by creating an ecosystem with products, services and technology which will define the next frontier of innovation.
Ola Electric IPO update:
ola electric share price:
Ola electric mobility share price current price is Rs133 which is almost 70% up from listing price.Ola Electric share price hits 20% upper circuit after listing on Aug 9 2024 from allotment price. Later its been up rally for ola electric mobility.
OLA Electric IPO Details
| IPO Date | August 2, 2024 to August 6, 2024 |
| Listing Date | August 9, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹72 to ₹76 per share |
| Lot Size | 195 Shares |
| Total Issue Size | 808,626,207 shares (aggregating up to ₹6,145.56 Cr) |
| Fresh Issue | 723,684,210 shares (aggregating up to ₹5,500.00 Cr) |
| Offer for Sale | 84,941,997 shares of ₹10 (aggregating up to ₹645.56 Cr) |
| Employee Discount | Rs 7 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 3,687,072,258 |
| Share holding post issue | 4,410,756,468 |
OLA Electric IPO Promoter Holding
| Share Holding Pre Issue | 85.77% |
It was a fresh issue of shares worth ₹5,500 crore and an offer for sale (OFS) of 8.49 crore equity shares. The price band was fixed at ₹72-76 per share.
Share Holding Post IPO:
- Promoters -36.78
- FII-7.64%
- DII-6.74%
- Public-42.43%
- Others-6.41%
Ola Electric Q1 results
Ola Electric Mobility Q1 results are out and they made net loss of Rs 347 crore for the quarter ended June 30, 2024, which was up from Rs 267 crore .
The revenue from operations is Rs 1,644 crore.Net loss widens to Rs 347 crore Year on year , revenue increases by 32%
Ola Electric Target price-140 by HSBC
Currently after Q1 results , HSBC broker firm is very keen about Ola Electric company and provided target Price of 140. HSBC brokerage firm thinks that Cost of Making EV vehicles will come down Drastically by 2027,28 so looking at this , they are bullish on this stock.
At the time of listing Arun Kejriwal, Founder of Kejriwal Research and Investment Services, said, “At the time of listing, Ola Electric shares had a trading volume of around 6 crore that surged to over 34 crore within an hour of share listing.
This means institutional buying has taken place at an alarming level, and hence, chances of retracement in Ola Electric share price from the higher levels are limited. So, Ola Electric shareholders are advised to hold the scrip maintaining stop loss at ₹75.”
On the suggestion to fresh investors, Arun Kejriwal said, “Fresh investors can start accumulating Ola Electric shares from current levels and keep on adding after every big dip in the newly listed shares. They are also advised to maintain stop loss at ₹75 apiece.”
Ola Electric Fundamentals
On the financial front, Ola Electric Mobility’s revenue grew from ₹456.2 crore to ₹5,243.2 crore between FY22 and FY24, while net loss widened from ₹784.14 crore to ₹1,584.4 crore during the same period
Despite mounting losses, in December, Ola Electric (Ola) remained the market leader by volume and gained market share, reaching 40 percent in EV two-wheeler segment. Ola gained the most market share, followed by Bajaj Auto while TVS Motor lost the most.
Conclusion:
As per expert opinion, better to watch out for opportunities and then take decision. Company is not yet profitable and future quarters are crucial for company to have trust of share holders.
Kindly check with your financial advisor for any suggestion.
More Article:
Read more of Our Article on Recent IPO and Other Research Article.
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FAQ
1.Is Ola Electric making profit?
As of now its not making profit. Company is looking at making profit in future quarter’s. company’s net loss stood at Rs 1,472.08 crore with a revenue of Rs 2,782.70 crore in the fiscal year 2022-23.
2.Current price of Ola electric.
Listed at 76 Rs on NSE. Currently Trading at 133 Rs.
3.Ola electric Market share?
Ola electric is the leader of a rapidly growing market with a 35 per cent share