India Observers

Ola Electric, a company making electric scooters, has reached a big milestone before they plan to launch their Initial Public Offering (IPO). As you know, an IPO is when a company's shares are offered to the public for the first time.  Ola Electric has set a record as the first electric two-wheeler (EV 2W) company in India to have over 2.65 lakh registrations in one year.  This information comes from the VAHAN Portal, a government database for vehicle registration. On January 1, Ola Electric shared some exciting news. In December 2023, they had the highest number of registrations for a single month, with 30,219 scooters. This means they had a 40% market share in the electric two-wheeler market in India. Compared to December 2022, they grew by 74 percent. Also, if we compare the last quarter of 2023 with the same time in 2022, they grew by 68 percent. During the last three months of 2023, they registered 83,963 scooters. Anshul Khandelwal, the Chief Marketing Officer at Ola El...

India's electric vehicle company, Ola Electric, known for its electric scooters, has made a big move. On December 22, they submitted their draft papers to SEBI, the organization in India that oversees the stock market. This step is part of their plan to launch an IPO. Ola Electric aims to gather a whopping Rs 5,500 crore through this IPO. This event is quite special because it's the first time an Indian electric vehicle company, especially one that makes two-wheelers like scooters, is going for an IPO. The last time a two-wheeler company did this in India was Bajaj Auto in 2008. Now, let's talk about what's in these IPO papers. Ola Electric will sell new shares worth Rs 5,500 crore and some existing shares too. The founder of Ola Electric, Bhavish Aggarwal, is also planning to sell a part of his shares. The exact price for these shares and when you can start buying them hasn't been announced yet. They're planning to use the money they raise in different ways. A ...

  Ola Electric , the electric vehicle (EV) arm of ride-hailing giant Ola, has made a strong start in the Indian EV market. The company has announced that it sold over 27,000 units of its flagship electric scooter in March 2022, capturing a 30% market share in just one month. This is a remarkable achievement for the Bengaluru-based start-up, which launched its first electric scooter just six months ago. The Ola electric scooter has been well-received by customers for its affordable pricing, long-range, and sleek design. The company claims that its electric scooter can travel up to 100 km on a single charge and can be charged up to 50% in just 18 minutes. Ola Electric has also been aggressively expanding its charging infrastructure across the country. The company has already set up more than 200,000 charging points in over 400 cities and plans to set up 1 million charging points by 2023. This move is aimed at addressing the biggest challenge in the adoption of EVs in India - the lac...