Ola Electric

Chinese companies dominate the EV landscape. According to Counterpoint Research, all the top five electric two-wheeler manufacturers are Chinese, holding a combined global market share of about 72%. 72%! Global market share!!

Ola Electric Mobility, the country's top e-scooter manufacturer, has experienced a remarkable 20% surge in its market valuation, reaching 586.64 billion rupees (USD 6.99 billion). This substantial increase comes on the heels of the company's strategic launch of a new line of electric motorcycles and its ambitious plans to develop and utilise its own batteries.

How did it happen? I researched well before the IPO and everyone was against Ola’s IPO referencing their losses and weak financials. As a result didn’t apply and still regret and think who are those investors giving damn valuations to Ola electric? Like it has grown 70%+ since inception of IPO and everyday I see it reached 20% upper circuit. On one side people are ranting Bhavesh and Ola while on the other hand they are aggressively purchasing Ola shares. What do you think about it? Is it a bubble or a missed opportunity?

- Shares of newly listed Ola Electric Mobility surged 20% to hit an upper circuit of Rs 109.44 apiece on August 12, extending gains for a second consecutive session. - The company will hold its first board meeting since listing on August 14, 2024, to declare the Q1FY25 results. - The IPO was a combination of a fresh issue of Rs 5,500 crore and an offer-for-sale of 8.49 crore shares worth Rs 645.6 crore by existing shareholders. - In terms of volumes, 14 crore shares changed hands in the morning, lower than the 57 crore shares traded on August 9. - Ola Electric is gearing up to unveil its first electric motorcycle on Independence Day, with no official details disclosed yet. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/markets/ola-electric-shares-zoom-17-extend-gains-after-upper-circuit-on-market-debut-12793273.html)

- Ola Electric Mobility shares debuted on August 9, trading at Rs 76, matching the IPO issue price. - The Rs 6,154-crore public offer, a mix of fresh issue and offer-for-sale, was subscribed 4.27 times. - Employees showed strong participation, purchasing 11.99 times the reserved portion. - The company plans to invest Rs 1,227.64 crore to expand its cell manufacturing capacity and allocate funds for debt repayment, research, and organic growth. - Both QIBs and retail investors demonstrated robust interest, with QIBs subscribing 5.31 times and retail investors 3.92 times their allotments. Source: [Moneycontrol](https://www.moneycontrol.com/news/business/ipo/ola-electric-ipo-listing-stock-market-debut-rs-76-per-share-12791549.html)

- The public offering of Ola Electric was oversubscribed by 4.3 times on Tuesday, August 6, the final day of the issue. The company is raising Rs 6,145 crore ($732 million). - There was high interest from existing employees, who subscribed to the issue 11.7 times. However, the component reserved for them is the smallest at 0.84 million shares, which comes to about Rs 6 crore. - Institutional investors, for whom 75% of the issue was reserved, bid 5.3 times the allotted amount. The segment for non-institutional investors, like corporates and wealthy individuals, saw a subscription rate of over 2.39 times. - Retail participation was relatively strong at 3.86 times. - Ola Electric’s IPO involves a primary capital raise of Rs 5,500 crore and an offer for sale of Rs 645 crore. Early backers such as Tiger Global, Matrix Partners, and SoftBank are selling their shares in the secondary sale, besides founder Bhavish Aggarwal. Source: The Arc - https://thearcweb.com/article/ola-electric-ipo-subscribed-bhavish-aggarwal-ev-86C0N6fuifKQ2LEu

Our thread boi on Twitter did not write any thread about OLA electric IPO this time. In case you are wondering why, he works for DeVC which is subset of Matrix Partners and Matrix is an investor in OLA Electric. To be honest I was really looking forward to his thread on how OLA EV would shape up.

As it says https://www.business-standard.com/companies/news/mapmyindia-accuses-ola-electric-of-data-theft-for-maps-sends-legal-notice-124072900815_1.html

Get ready for layoffs!! 😔

I got an offer recently as PM. Please pour some insights