Ola Electric

Set to File IPO Papers before end of December

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.

Ola Electric’s IPO Plans

A recent funding round of Rs 3,200 crore, comprising equity from prominent investors and debt from the State Bank of India, highlights the company's dedication to advancing India's electric vehicle 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.

Financial Targets

On December 6, Ola Electric unveiled ambitious financial goals, targeting EBITDA profitability of Rs 803 crore in FY25. It aims to reduce EBITDA loss to Rs 950 crore in FY24, projecting a revenue of Rs 4,655 crores in the same fiscal year.

Conclusion

With promising projections and robust fundraising strategies, Ola Electric is poised for a transformative journey as it prepares to enter the public domain.