Ola Electric Mobility Limited IPO

Founded in 2017, Ola Electric Mobility Limited manufactures electric vehicles and core components at the Ola Futurefactory. Since August 2021, the company has launched seven products, including the Ola S1 Pro, S1, S1 Air, S1 X, and S1 X+. On August 15, 2023, it announced new EV models and motorcycles like Diamondhead, Adventure, Roadster, and Cruiser. As of October 31, 2023, Ola Electric operates 870 experience centers and 431 service centers across India, in addition to its website.

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The company plans to use the Net Proceeds for the following purposes: 1. Expanding its subsidiary OCT's cell manufacturing plant from 5GWh to 6.4GWh (Phase 2). 2. Repaying or prepaying subsidiary OET's debt. 3. Investing in research and product development. 4. Funding organic growth initiatives. 5. General corporate purposes. Read more

How do I apply for the OLA Electric IPO?

You can apply for the OLA Electric IPO using any supported UPI app by following two steps:

• Enter your bid on rocket
• Accept UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account.