Ola Electric News

Ola Electric logged its lowest monthly sales this year in September, government data showed, as the SoftBank-backed firm sees its dominance eroded by smaller competitors and servicing network challenges. Ola Electric, which made its stock market debut about two months ago, sold 23,965 vehicles in September, recording a month-on-month decline for the second consecutive month. Its falling month-on-month sales has seen its market share decline for five straight months to 27% in September, from over 50% in April, the data showed.

Subscribe to enjoy similar stories. Bengaluru: CarDekho’s early investors including Peak XV, Google Capital and Hillhouse Capital are expected to sell part of their stakes in the automobile marketplace as the company initiates conversations with merchant bankers for an initial public offering next year. CarDekho, which is expected to file its IPO papers in March, may see other early investors also book a profit from its public share offering, two people with direct knowledge of the matter told Mint.

Sandip Sabharwal, asksandipsabharwal.com, says the price at which Bajaj Housing Finance is trading is crazy and there is no way one can justify these valuations when large, established, diversified financials are trading at half, one-third, or maybe 25% of the valuation of this company. Like with many other IPOs, this is just frenzied trading in a limited-float stock. Sabharwal says there’s a similar frenzy in Ola Electric, which is losing market share every month, it is giving forecasts based on them either maintaining or improving market share, which is not going to happen. FOMO is setting in over the Bajaj Housing Finance IPO. The stock for a second consecutive day ended up in the green. But what is the message out there for people who want to participate right now? Should they be sitting on the sidelines, waiting for the frenzy to be over?

Subscribe to enjoy similar stories. New Delhi: Ola Electric has assembled a new service team as the maker of battery-powered scooters grapples with a mounting pile-up of service complaints from customers. The Bengaluru-based company has been receiving nearly 80,000 complaints every month, according to two individuals with direct knowledge of the situation, and its service centres are struggling to keep pace.

Subscribe to enjoy similar stories. A month after Ola Electric was listed in the public market, its older but smaller rival Ather Energies also filed its draft red herring prospectus (DRHP) for an initial public offering (IPO). Founded in 2013, Ather Energies has seen Ola Electric, four years its junior, overtake it in sales in the past few years.

Electric two-wheeler maker Ather Energy on Monday filed preliminary papers for its initial public offering (IPO) with capital markets regulator Securities and Exchange Board of India (Sebi). This comes weeks after the successful market debut of its main rival Ola Electric. ET had reported on September 6 about Ather's IPO plans. Here are key things to know:

Ather Energy has set an ambitious valuation target of $2-2.25 billion (about ₹16,800-19,000 crore), as the electric scooter maker prepares to file its draft prospectus next week for an initial public offering (IPO), said people familiar with the matter. The Bengaluru-headquartered startup is looking to raise ₹3,500-4,000 crore through the IPO which will comprise a fresh issue and an offer for sale by existing shareholders. Funds raised through the fresh issue would be used partly for capacity expansion, the people said.

SoftBank, which had booked profits in recent IPOs of Ola Electric, Firstcry and Unicommerce, is expected to stay put, the person said on the condition of anonymity. The IPO, one of the most anticipated this year, is expected to open in November. Norwest and Prosus are among the early investors in Swiggy.

Bhavish Aggarwal has rejected claims of copying MapmyIndia, saying the map company was attempting to ride on Ola Electric's listing coattails. The Chairman and Managing Director of Ola brand owner ANI Technologies told PTI that the company has sent legal notice to MapmyIndia but hasn't received any reply from them. «Empty vessels make more sound. These people woke up suddenly someday. Ola Electric is not even in the maps business. In the run-up to Ola electric IPO they just wanted to ride on its coattails. We have also given them legal notice, their reply has not come till date,» Aggarwal said. Ola Electric got listed on the bourses on August 9. The company raised Rs 5,500 crore from its initial public offering.

startups in the electric two-wheeler segment — Ola Electric, Ather Energy and Greaves Electric (Ampere) — declined to 48.8% in the first quarter, from 59% in the year-ago period, as legacy manufacturers such as Bajaj Auto, Hero MotoCorp and TVS Motor Company expanded their footprint in the fast-evolving market. After starting from behind, the older companies accounted for about one of every three units sold in the category in the first three months of the current financial year. Overall, electric two-wheeler sales inched up by 1.4% to 221,548 units, according to the Federation of Automobile Dealers Association (FADA).

New-age stocks have made a strong comeback of late driven by robust revenue growth and improved profitability through reduced spending. Increased allocations by overseas funds and strong demand for recent public issues have further fuelled the rally. Analysts believe these stocks could continue to perform well so long as they sustain their growth momentum. The ET E-commerce Index, comprising 13 new-age companies, has surged 45% in the past six months, outperforming the 12% gain in the Nifty Index and the 8% rise in the Nifty IT Index.

Ola Electric, Unicommerce, and First Cry have significantly enriched their investors, reflecting strong market interest and confidence in these companies. These successful public offerings highlight the potential of homegrown businesses in India, suggesting that the market is eager for more such opportunities. Nithin Kamath, the founder of Zerodha, acknowledged the success of these IPOs and emphasized the need for more Indian companies to follow suit. He noted that the success of these IPOs could serve as an incentive for other companies to consider going public, which would, in turn, attract more retail and institutional investors. Kamath pointed out that a steady flow of new securities is essential for the growth of the market, particularly as domestic investment continues to increase. His comments were met with a wave of responses from the public, many of whom urged Zerodha to consider its own IPO. People questioned whether Kamath would lead by example and bring Zerodha to the stock market.

Ola Electric, Hindustan Zinc, SpiceJet, SBI, Glenmark Pharma among others will be in focus due to various news developments and first quarter results. Hindustan Zinc Hindustan Zinc Limited (HZL) has announced its offer for sale from August 16 to 19 and has set the floor price at Rs 486 per share according to reports.

Krutrim, the artificial intelligence startup of Ola founder Bhavish Aggarwal, said on Thursday that it would launch its first AI chip, Bodhi 1, by 2026 and a superior Bodi 2 two years later. Krutrim’s chips will be custom-built for handling complex AI workloads, Aggarwal said. «They will enable development of faster and more efficient AI systems.» The Bengaluru-based company is working on four chips: Bodhi 1, Bodhi 2, Sarv 1 and Ojas. On Thursday, it announced partnerships with global semiconductor company Arm and Untether AI for the development of CPU and AI chips, platforms and systems.

Ola Electric has unveiled three new electric motorcycles, the Roadster, Roadster X, and Roadster Pro, with prices starting at Rs 74,999. In addition, the company announced it will integrate its battery cells into its own vehicles starting in Q1 FY26. Ola Electric also teased two upcoming motorcycle models, the Sportster and Arrowhead. The newly launched Roadster series offers varied price points and performance capabilities: the Roadster starts at Rs 74,999, the Roadster X at Rs 1,04,999, and the Roadster Pro at Rs 1,99,999. The bikes will hit the roads from January next. Bhavish Aggarwal, Founder and CMD of Ola Electric, highlighted the significance of these new offerings for the Indian market.

listing gains snagged by SoftBank’s India portfolio firms Ola Electric, FirstCry and Unicommerce are the result of sensible initial public offering (IPO) pricing, favourable macroeconomic conditions and the growing acceptance of technology firms by the capital markets, said Sumer Juneja, managing partner for India and EMEA at SoftBank. In an interview to ET on Tuesday, he said that the active participation of domestic mutual funds has helped shore up demand for these public offerings. It’s not true that these new-age IPO are gaining only because of the continuing bull run in the stock markets, he added. The Masayoshi Son-led Japanese group’s cumulative holdings across the three recently listed companies stand at about $2 billion following their market debut. SoftBank had pumped $400 million into FirstCry, which listed at a premium of 40% to its issue price of Rs 465 per share.

Ola Electric, FirstCry and Unicommerce, which went public this month, have boosted the worth of Japanese technology investor SoftBank’s stakes in these companies to almost Rs 16,000 crore, or nearly $2 billion, based on the latest stock prices of these three companies. SoftBank has already realised around $400 million, or around Rs 3,300 crore (at current exchange rates), from secondary stake sales in the three companies. SoftBank had invested more than Rs 4,100 crore in FirstCry, which listed at a premium of 40% on the National Stock Exchange (NSE) Tuesday to the issue price of Rs 465 apiece.

Vodafone Idea, Hindustan Aeronautics (HAL), Mazagon Dock, Hero MotoCorp, IRFC, IRCTC, HUDCO, Apollo Hospitals, Samvardhana Motherson, GMR Airports Infrastructure, Nykaa, and Ola Electric will be releasing their June quarter report cards this week. Here’s the list:

Ola Electric Mobility listed at ₹76-the price at which the shares were sold in the recent initial public offering-on the BSE on Friday. Subsequently, the stock soared 20% to close at ₹91.2. At close on Friday, the two-wheeler electric vehicle maker had a market capitalisation of ₹40,218 crore. Ola Electric said in an exchange filing it will present its June quarter earnings on August 14. The EV maker's ₹6,145.56crore initial public offering (IPO) was the largest in 2024 so far. It was priced between ₹72 and ₹76 a share. The IPO was subscribed 4.27 times.

investors who took positions in FirstCry, Ola Electric and Unicommerce at the right time, with their investments set to become multibaggers when these new-economy startups go public next week. Investors such as SoftBank, Tiger Global, Mahindra & Mahindra and Matrix Partners India will see the value of their holdings in these firms surge anywhere between three times to ten times as they hit the public markets, according to calculations made by ET basis information available in the IPO prospectuses of these companies.

Ola Futurefactory is going to be the world's largest EV ecosystem at a single site."According to a report by HT Auto, Bhavish Aggarwal could make major announcements related to Ola Electric, Ola Cabs and his AI platform Krutrim at Sankalp 2024. Announcements about Ola's upcoming electric bike and the company's new venture, Ola Maps, are also likely.The Ola Bike was previously confirmed to arrive in the second half of 2025, and Aggarwal had recently shared a teaser for it in an X post.