Rate this post

Ola Electric led by a SoftBank-backed entity, is gearing up to file their draft IPO papers next week, as per sources familiar with the matter. This move follows SoftBank’s optimistic valuation markups for these companies and sets the stage for significant IPOs. 

Table of Contents

Ola Electric’s IPO Plans:

Ola Electric has enlisted the services of Kotak Mahindra Capital and Goldman Sachs for its IPO scheduled for early 2024, incorporating a mix of primary and secondary share offerings. The recent successful funding round of Rs 3,200 crore, a combination of debt and equity from prominent investors and debt from the State Bank of India (SBI), underscores the company’s commitment to expanding India’s electric vehicle (EV) landscape.

Sales and Revenue Projections

Ola Electric envisions sales reaching 0.3 million units in FY 24, with a substantial increase to 0.9 million units by FY 25. Despite a noteworthy 510% surge in consolidated revenue to Rs 2,782 crore in FY23, the company faced an enlarged net loss of Rs 1,472 crore compared to Rs 784 crore reported in FY22.

Financial Targets

On December 6, Ola Electric announced ambitious financial targets, aiming for EBITDA profitability of Rs 803 crore in FY25. The company also expressed confidence in reducing its EBITDA loss to Rs 950 crore in FY24, projecting a revenue of Rs 4,655 crores in the same fiscal year.


As SoftBank-backed Ola Electric gears up for its IPO, these developments underscore the resilience and dynamism of the Indian market. With promising projections and robust fundraising strategies, Ola Electric is poised for a transformative journey as it prepares to enter the public domain. Stay tuned for further updates as Ola Electric embarks on its path to the public market. 


Please enter your comment!
Please enter your name here