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Ola Electric raises ₹1,700 cr debt ahead of IPO
Inshorts
·
2m ago
Medial
Ola Electric has secured board approval to raise ₹1,700 crore via non-convertible debentures, marking its first major financial move post-IPO filing. The funds will fuel production expansion, R&D, and its Gigafactory in Tamil Nadu. This strategic debt raise boosts market confidence, preserves equity, and positions Ola to accelerate its EV dominance before the anticipated IPO.
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Ola Electric board approves Rs 1,700 Cr funding plan via debt instruments
Entrackr
·
2m ago
Medial
Ola Electric board approves Rs 1,700 Cr funding plan via debt instruments Bengaluru-based Ola Electric Mobility Limited has approved a fundraising plan of up to Rs 1,700 crore through various debt instruments. Ola Electric Mobility has approved a plan to raise up to Rs 1,700 crore through debt instruments, following a board meeting held earlier today. According to the regulatory filing, the company will raise funds by way of term loans, working capital facilities, or issuance of Non-Convertible Debentures (NCDs) and other eligible debt securities. The funds may be raised in one or more tranches on a private placement basis or through any other method permitted under applicable laws. This is within the borrowing limits approved by shareholders and is intended to support the company’s growth and operations. Importantly, the company confirmed that the trading window remains closed since April 1, 2025, and will reopen 48 hours after the announcement of its financial results. This comes as the company faces increased regulatory scrutiny and financial challenges. In January, SEBI cautioned Ola Electric for violating disclosure norms after announcing a retail expansion on social media before informing exchanges. The following month, a discrepancy arose between its claimed 25,000 vehicle sales and 8,600 VAHAN registrations, which the company attributed to vendor delays. However, the Bhavish Aggarwal-led company secured the second position in the electric two-wheeler segment in April, with TVS Motor emerging as the market leader. While Ola Electric has yet to file its Q4 results, the company reported a 19.4% year-on-year drop in operating revenue to Rs 1,045 crore from Rs 1,296 crore. During the period, its net loss widened 50% to Rs 564 crore. Disclaimer: Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here.
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Exclusive: Ola Electric raises Rs 100 Cr debt ahead of IPO
Entrackr
·
1y ago
Medial
IPO-bound Ola Electric has raised Rs 100 crore (approximately $12 million) in debt from Alteria Capital. This is the second round of debt funding for the Bengaluru-based company in 2024. The board at Ola Electric has passed a special resolution to issue 10,000 non-convertible dentures at an issue price of Rs 1,00,00 each to raise Rs 100 crore, its regulatory filings accessed from the Registrar of Companies (RoC) show. The development comes after two months of its $50 million debt funding from EvolutionX. According to the filings, the debentures have an interest rate of 13.8% per annum with an additional 2% interest per month over and above the coupon rate, in case of default of interest. As per the startup data intelligence platform TheKredible, the Bhavish Aggarwal-led company has raised more than $1 billion across equity and debt and was valued at $5.4 billion during the last round. In December 2023, Ola Electric filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 5,500 crore ($660 million). As per media reports, the company has also received a green signal from market regulator SEBI for the public listing. Based on the DRHP filed by Ola Electric, Bhavish Aggarwal is the largest stakeholder with 36.94% followed by Soft Bank which commands 21.98% of the company. Tiger Global, Indus Trust, and Alpha Wave own 6.03%, 3.85% and 3.49%, respectively. Ola Electric grew at a rapid clip in FY23 which could be evident from its revenue that surged seven-fold to Rs 2,631 crore as compared to Rs 373 crore in FY22. Meanwhile, its losses increased by 87.76% to Rs 1,472 crore in the fiscal year ending March 2023. In the two-wheeler electric vehicles segment, the SoftBank-backed company competes with Hero Electric, Ather Energy, TVS, among others. As per Vahan data, Ola Electric controls 49% market share in two-wheeler EVs with 37,191 e-scooter registrations in May.
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Ola Electric's IPO Shine Fades In Just 9 Months, Now It Needs New Capital - Here's Why
OutlookIndia
·
2m ago
Medial
Ola Electric secured board approval to raise up to Rs 1,700 crore through debt instruments, just nine months post-IPO. Facing challenges like declining market valuation and competition, Ola aims to bolster finances. The company plans to issue non-convertible debentures and other securities, amid investor valuation cuts and regulatory scrutiny over sales reporting discrepancies. Ola's market share and financial performance have declined, prompting this fundraising to support expansion and operational needs.
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IPO-bound Ola Electric raises $50 Mn debt from EvolutionX
Entrackr
·
1y ago
Medial
Ola Electric has raised Rs 410 crore (approximately $50 million) via non-convertible debentures from EvolutionX. The board at Ola Electric has passed a resolution to issue 41,000 NCD (non-convertible debentures) at an issue price of Rs 100,000 each to raise Rs 410 crore, its regulatory filing sourced from RoC shows. This is the second debt financing for Ola Electric in the last six months. In October 2023, it received $385 million in a funding round mix of equity and debt from Temasek-led marquee investors and the State Bank of India (SBI). According to startup data intelligence platform TheKredible, the firm has raised more than $1 billion across equity and debt and was valued at $5.4 million during the last round. ET reported the development first. Ola Electric has been working on its lithium-ion cell manufacturing facility with an initial capacity of 5 gigawatt hours in phase I which will be further scaled up in phases to 100 gigawatt hours at full capacity. Besides focusing on electric scooters, the firm has also introduced its motorcycle line-up scheduled to be launched by the end of this year. In December 2023, Ola Electric filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) to raise Rs 5,500 crore ($660 million). As per the company, it will utilize the primary proceeds for the expansion of the capacity of its cell manufacturing plant, repayment or pre-payment of the indebtedness, investment into research and product development, and general corporate purposes. Ola Electric is the second IPO-bound company that raised debt financing in recent times. Last week, fintech firm MobiKwik raised Rs 50 crore ($6 million) in debt from BlackSoil Capital. Entrackr exclusively reported the development. Temasek-backed EvolutionX has backed notable companies like Udaan, Mensa Brands, PharmEasy and LendingKart.
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Ola Electric losses surge 2X to Rs 862 Cr in Q4 FY25, revenue declines 62%
Entrackr
·
2m ago
Medial
Ola Electric saw a 62% year-on-year decline in revenue in Q4 FY25, while its losses surged 106%, underscoring a tough quarter for the SoftBank-backed electric mobility company. Ola Electric witnessed a turbulent financial performance during the fourth quarter of FY25, as its revenue saw a sharp year-on-year decline of 62%. In parallel, the company’s losses more than doubled, indicating the mounting challenges faced by the SoftBank-backed electric mobility firm. Ola Electric’s revenue from operations decreased to Rs 611 crore in Q4 FY25 from Rs 1,598 crore in Q4 FY24, its consolidated financial statements sourced from the National Stock Exchange show. For the full fiscal year (FY25), Ola Electric’s operating revenue decreased 10% to Rs 4,514 crore in FY25 from Rs 5,010 crore in FY24. Income from the sale of electric scooters was the sole source of revenue for Ola Electric while the collection from the sale of batteries contributed only a small portion in the last quarter of the previous fiscal year. For the EV scooter maker, material procurement made up 33% of the total costs at Rs 527 crore in Q4 FY25. Other major expenses included employee benefits, advertising, and technical support, pushing the total quarterly burn to Rs 1,598 crore. For the full fiscal year ending March 2025, total expenses rose to Rs 7,185 crore. A higher decline in sales caused Ola Electric's losses to rise by 106% in Q4 FY25, reaching Rs 862 crore compared to Rs 418 crore in the same quarter of the previous fiscal year (Q4 FY24). For FY25, the firm’s losses stood at Rs 2,276 crore in FY25, up from Rs 1,584 crore in FY24. Recently, Ola Electric Mobility has approved a plan to raise up to Rs 1,700 crore through debt instruments. The Bhavish Aggarwal-led company secured the second position in the electric two-wheeler segment in April, with TVS Motor emerging as the market leader. For the first time, Ather Energy has surpassed Ola Electric in quarterly revenue. In Q4 FY25, Ather reported an operating revenue of Rs 676 crore, ahead of Ola Electric’s Rs 611 crore. At the close of today's trading session, Ola Electric's stock was priced at Rs 53.20, giving the company a market capitalization of Rs 23,465 crore.
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Ola Electric shares extend listing-day gains; jump 20%
YourStory
·
11m ago
Medial
Shares of Ola Electric Mobility Ltd, led by Bhavish Aggarwal, surged 20% on Monday, hitting the upper circuit limit and extending their listing-day rally. The company's market valuation also saw an increase of INR 8,040.94 crore, reaching INR 48,258.89 crore. Ola Electric's initial public offering (IPO) received 4.27 times subscription and had a price range of INR 72-76 per share. The company plans to use funds from the IPO for capacity expansion, research and development, debt repayment, and organic growth initiatives. Ola Electric manufactures electric vehicles and core components at its Ola Futurefactory.
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Ola Electric gets $50 million in debt financing from EvolutionX Cap
Economic Times
·
1y ago
Medial
Indian electric two-wheeler manufacturer, Ola Electric Mobility, has raised ₹410 crore (approximately $50 million) through non-convertible debentures from EvolutionX Debt Capital, as per regulatory filings. EvolutionX, backed by DBS and Temasek, has previously invested in Indian internet companies such as Udaan, Mensa Brands, PharmEasy, and LendingKart. This funding comes after Ola Electric had secured $240 million in debt financing from the State Bank of India in 2023. The company aims to raise up to ₹5,500 crore ($737 million) through its upcoming IPO, targeting a valuation between $7-8 billion. Ola Electric also plans to invest ₹500 crore into its subsidiary, Ola Electric Technologies.
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SoftBank-backed Ola Electric's IPO attracts $2 bn of bids from big institutions
VCCircle
·
1y ago
Medial
Ola Electric, backed by SoftBank, received over $2 billion in bids from big institutions ahead of its initial public offering (IPO). The IPO aims to raise $734 million and has already allocated shares to institutions such as Nomura, Norges Bank, SBI Mutual Funds, and HDFC Mutual Funds. Ola Electric plans to sell shares in the range of 72-76 rupees, targeting a valuation of $4 billion. The IPO is set to open for retail investors and eligible employees on Friday and close on Tuesday.
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Kalpataru raises Rs 708 cr from anchor investors ahead of IPO
Economic Times
·
1m ago
Medial
Real estate developer Kalpataru Ltd raised Rs 708 crore from anchor investors, including GIC and Bain Capital, ahead of its IPO scheduled for June 24-26. The company plans to raise up to Rs 1,590 crore with a price band of Rs 387 to Rs 414 per share. Kalpataru aims to utilize the funds for debt payment and corporate purposes. The IPO consists entirely of a fresh equity issue with no offer for sale component.
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Ola Electric, FirstCry IPOs give i-banks a fat Rs 241 cr payday
Money Control
·
11m ago
Medial
The recent IPOs of Ola Electric and FirstCry in India have resulted in investment banks earning a combined fee of ₹241.41 crore. Ola Electric's IPO generated the highest fee income of ₹145.04 crore, while FirstCry's IPO yielded ₹96.37 crore in fees. These earnings account for nearly 20% of the total fee income from IPOs in 2024. The IPOs have been profitable, with Ola Electric shares gaining 20% on its first trading day and FirstCry shares up by almost 46% at the end of their first day. Overall, IPO bankers have earned a significant amount from IPOs this year compared to the previous year.
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