As per the DRHP, it operates its direct-to-customer (D2C) omnichannel distribution network, comprising of 935 experience centres across India which includes 414 service centres, as of October 31, 2023. Its D2C omnichannel distribution network comprises of an integrated company-owned sales and service network, a charging network, and an online retail platform

The company has also been approved for India’s PLI schemes – one relating to the manufacturing of advanced automotive technology products (Automobile PLI Scheme), and another relating to advanced cell chemistry batteries (Cell PLI Scheme).

The company recently announced new EV scooter models, the Ola S1 X (2 kWh) and Ola S1 X (3 kWh) and Ola S1 X+. It started delivering Ola S1 X+ in December 2023. It plans to commence delivery of the Ola S1 X (2 kWh) and the Ola S1 X (3 kWh) by the first half of the Fiscal 2025. It is also working towards delivering the recently announced line-up of four motorcycle models: Diamondhead, Adventure, Roadster, and Cruiser in the first half of Fiscal 26.

In September 2023, the company launched MoveOS version 4, as a beta roll-out, which included new features such as navigation powered by Ola Maps, call filter, ‘find my scooter’, geofencing, time fencing, anti-theft alert, fall detection, hill hold, auto turn-off indicators, ride journal and energy insights. Its EV scooters are connected to a network and designed to transmit data through the vehicle telematics systems, this enables them to continually enhance its product features and performance.

It introduced its first EV model – S1 Pro in August 2021 and currently has a portfolio of 5 scooter models. Within nine months of Ola Electric delivering its first EV scooter, it surged to become the best-selling E2W player in India based on E2W registrations listed on the VAHAN Portal of the Ministry of Road Transport and Highways. As of three-months period ended June 30, 2023, it has an E2W market share of 31% and aims to explore exporting EVs to specific international markets in the future.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, BofA Securities India Limited, Goldman Sachs (India) Securities Private Limited, Axis Capital Limited, ICICI Securities Limited, SBI Capital Markets Limited and BOB Capital Markets Limited are the book-running lead managers, and Link Intime India Private Limited is the registrar of the offer.

Ola Electric files for IPO

EV player Ola Electric files IPO papers with SEBI