Ola Electric Mobility Limited’s Initial Public Offering to open on Friday, August 02, 2024, price band set at ₹72/- to ₹76/- per Equity Share

• Price Band of ₹72/- – ₹76/- per equity share bearing face value of ₹10/- each (“Equity Shares” or “Securities”)

• Bid/Offer Opening Date – Friday, August 02, 2024, and Bid/Offer Closing Date – Tuesday, August 06, 2024.

• Minimum Bid Lot is 195 Equity Shares and in multiples of 195 Equity Shares thereafter.

• The Floor Price is 7.2 times the face value of the Equity Share and the Cap Price is 7.6 times the face value of the Equity Share

Mumbai, July 29, 2024: Bengaluru-based Ola Electric Mobility Limited, a pure EV player in India building vertically integrated technology and manufacturing capabilities for EVs and EV components, has fixed the price band of ₹72/- to ₹76/- per Equity Share of face value ₹10/- each for its maiden initial public offer. The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, August 02, 2024, for subscription and close on Tuesday, August 06, 2024. Investors can bid for a minimum of 195 Equity Shares and in multiples of 195 Equity Shares thereafter.

The IPO consists of fresh issue of equity shares aggregating up to Rs 55,000 million and an offer for sale (OFS) of up to 84,941,997 equity shares by the Promoter Selling Shareholder, the Promoter Group Selling Shareholder, and the Investor Selling Shareholders. The offer also includes a reservation for eligible employees

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited, and BOB Capital Markets Limited are the book-running lead managers and Link Intime India Private Limited is the registrar to the offer. The Equity Shares are proposed to be listed on BSE and NSE.

The Offer is being made through the Book Building Process, wherein not less than 75% of the Net Offer shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders and not more than 10% of the Net Offer shall be available for allocation to Retail Individual Bidders.

These materials are not an offer for sale of the Securities in the United States. The Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The issuer does not intend to register any portion of the offering in the United States or to conduct a public offering of Securities in the United States.

This communication does not constitute an offer of the securities to the public in the United Kingdom.  No prospectus has been or will be approved in the United Kingdom in respect of the securities.  This communication is being distributed to and is directed only at (i) persons who are outside the United Kingdom, or (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”).  Any investment activity to which this communication relates will only be available to and will only be engaged with Relevant Persons.  Any person who is not a Relevant Person should not act or rely on this document or any of its contents.

DISCLAIMERS:

DISCLAIMER CLAUSE OF SEBI: SEBI only gives its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Document. The investors are advised to refer to page 368 of the RHP for the full text of the disclaimer clause of SEBI.

 

 DISCLAIMER CLAUSE OF BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 373 of the RHP for the full text of the disclaimer clause of BSE.

 

DISCLAIMER CLAUSE OF NSE (The Designated Stock Exchange): It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to page 373 of the RHP for the full text of the disclaimer clause of NSE.