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What an IPO signals about Ather's battle against Ola Electric

Livemint

Livemint · 10m ago

What an IPO signals about Ather's battle against Ola Electric

Ather Energies, an electric vehicle manufacturer, has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) nearly a month after competitor Ola Electric went public. Despite being overtaken by Ola Electric in terms of sales, Ather Energies' decision to go public suggests a shift in its strategy. Ola Electric's aggressive pursuit of scale has led to significant revenue growth, while Ather Energies has focused more on product quality and reputation. Despite their differing approaches, both companies are capitalizing on the increasing adoption of electric vehicles in India.

Related News

Ather Energy converts preference shares into equity; likely to launch IPO in April

Economic Times

Economic Times · 5m ago

Ather Energy converts preference shares into equity; likely to launch IPO in April

Ather Energy Ltd, an electric two-wheeler maker, is gearing up for its IPO by converting compulsory convertible preference shares into equity. This conversion complies with regulatory requirements and prepares the company for its expected IPO launch in April. Ather aims to raise funds for a new factory and debt reduction, offering a mix of fresh equity and shares from promoters. This move follows Ola Electric's IPO last year and expands Ather's research capabilities.

Ather Picks HSBC Holdings Plc, Others To Help It For IPO

Inc42 · 1y ago

Ather Picks HSBC Holdings Plc, Others To Help It For IPO

Ather Energy, an electric vehicle manufacturer, has reportedly chosen HSBC, Nomura, and JPMorgan as advisors for its upcoming initial public offering (IPO). The Bengaluru-based startup has also enlisted Axis Bank and JM Financial for its primary offering. Ather faced a 150% increase in net loss in FY23 to INR 864.5 crore despite sales growth. The company plans to launch new scooter models and has reduced the price of its 450S variant by INR 20,000 to improve sales. Ather's competitor Ola Electric is also rumored to be planning an IPO and recently received a PLI license for its S1 Pro scooter.

Ola Electric shares hit record low after unit faces insolvency petition

Economic Times

Economic Times · 4m ago

Ola Electric shares hit record low after unit faces insolvency petition

Ola Electric Mobility's shares dropped over 6% to a record low after it disclosed an insolvency petition against one of its units by creditor Rosmerta Digital Services, citing default in payments. The stock has fallen about 38% since its IPO. Ola denies the claims and seeks legal advice. Facing challenges like declining sales and regulatory scrutiny, Ola is restructuring its operations. The company posted a significant loss in the October-December quarter.

Cab-hailing firm Ola Consumer gets another valuation cut

VCCircle

VCCircle · 9m ago

Cab-hailing firm Ola Consumer gets another valuation cut

Cab-hailing firm Ola Consumer is facing another valuation cut as an existing investor, Vanguard, has revised its fair value estimate downwards by about 15%. This comes after Vanguard slashed Ola's valuation to just under $2 billion last year. Ola has experienced significant fluctuations in valuation over the past four years and is now worth roughly half of its group firm, Ola Electric. The COVID-19 pandemic hit Ola hard, with revenue plunging about 95% as lockdown measures curbed travel demand. Ola Consumer is reportedly planning an IPO following in the footsteps of Ola Electric.

Ola Electric’s Bhavish Aggarwal takes a swipe at ‘cute’ Ather Rizta ads

Economic Times

Economic Times · 1y ago

Ola Electric’s Bhavish Aggarwal takes a swipe at ‘cute’ Ather Rizta ads

Ola Electric founder, Bhavish Aggarwal, took a jab at rival Ather Energy's marketing strategy, stating that "cute ads" won't be effective in the electric vehicle (EV) segment. He suggested that EV companies focus on improving their supply chain and technology to lower product costs instead of investing heavily in marketing and sales. Ola Electric currently leads in the Indian EV scooter market, while Ather recently launched its family scooter, Rizta, to compete with Ola Electric's S1 range. Ola Electric spent Rs 61.4 crore on marketing in FY23, while Ather's advertising expenses surpassed Rs 203 crore.

Ola Electric: Rapid acceleration, but a journey paved with roadblocks

Livemint

Livemint · 1y ago

Ola Electric: Rapid acceleration, but a journey paved with roadblocks

Ola Electric, India's first purely electric vehicle manufacturer to file for an IPO, dominates the electric two-wheeler market with a 32.6% share. In fiscal year 2022-23, Ola Electric reported a seven-fold surge in volumes, selling over 156,000 scooters. However, the company is looking to raise ₹5,500 crore in its IPO, targeting a steep valuation of $7-8 billion. Challenges in employee attrition, reduced subsidies, inadequate charging infrastructure, and competition from auto giants pose potential obstacles to its growth. Ola Electric has already slashed its sales goals and delayed its profitability target, raising concerns about its lofty valuations.

Ola Electric IPO: Matrix Partners Makes 9.2X Gains Tiger Global Mints 6.5X Returns

Inc42 · 1y ago

Ola Electric IPO: Matrix Partners Makes 9.2X Gains Tiger Global Mints 6.5X Returns

Matrix Partners India Investments III, LLC, an early backer of Ola Electric, is set to make a return of about 9.2X as it sells 37.27 lakh shares as part of the company's upcoming IPO. The fund currently holds 12.66 crore shares in Ola Electric at an average price of INR 8.22 per share. The IPO saw lower demand than expected, leading to uncertainty about the listing price of the company's shares. Analysts advise risk-taking investors to hold on to their shares for the long term.

Ola Electric IPO opens. Should you subscribe to the biggest issue this year?

Economic Times

Economic Times · 1y ago

Ola Electric IPO opens. Should you subscribe to the biggest issue this year?

The IPO of Ola Electric, which includes a fresh equity sale of Rs 5,500 crore and an offer for sale of 8.4 crore shares, has opened for subscription. The issue will close on August 6. Founder Bhavish Aggarwal and other investors will be selling their shares in the IPO. Ola Electric is a prominent electric two-wheeler player in India and has raised over Rs 2,700 crore from anchor investors. Analysts are optimistic about the IPO and recommend subscribing to it with a long-term perspective. The IPO is priced in the range of Rs 72-76 per share. Ola Electric's revenue has shown growth, but the company's losses have also increased.

Ola Electric files draft IPO papers, looks to raise Rs 5,500 crore via fresh share sale

Economic Times

Economic Times · 1y ago

Ola Electric files draft IPO papers, looks to raise Rs 5,500 crore via fresh share sale

Ola Electric, the electric vehicle arm of ride-hailing giant Ola, has filed draft papers with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The IPO aims to raise funds to support the expansion of Ola Electric's EV fleet and infrastructure. Ola Electric is one of the leading players in the Indian EV market and plans to launch a range of electric vehicles, including electric two-wheelers, three-wheelers, and four-wheelers.

Ola Group Executive Amit Anchal buys luxury villa in Bengaluru. Details here | Mint

Livemint

Livemint · 1y ago

Ola Group Executive Amit Anchal buys luxury villa in Bengaluru. Details here | Mint

Amit Anchal, an executive of Ola Group, has purchased a luxury villa in Bengaluru for ₹13.5 crore. The property, located in Adarsh Palm Retreat Villas, features an 80,000-square-foot clubhouse with various amenities. Anchal, who is currently a strategic consultant for Ola, has previously held positions overseeing strategy and corporate finance for both Ola and Ola Electric. In other news, Ola Electric Mobility's IPO has opened for subscription with a price range of ₹72-76 per share. The IPO will be available for investors until August 5. Ola Electric is one of India's first fully electric vehicle companies to go public.

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