Ola IPO's 'Attractive' Price Meant To Help Investors Make Money, Says CEO Bhavish Aggarwal

Ola Electric's initial public offering is attractively and aggressively priced to let investors make money on the issue, said founder Bhavish Aggarwal.

The company’s focus remains firmly on long-term success, he told NDTV Profit's Tamanna Inamdar, citing concerns about high valuations.

The price band for the offering has been set at Rs 72–76 per share, at a valuation of Rs 33,522 crore.

The company, known for its innovative electric vehicle initiatives, is positioning itself for long-term growth, underscoring a decade-long vision that aligns with the enduring theme of sustainability, said Aggarwal.

Ola’s decision to bring the company to market at this stage reflects a calculated effort to harness early momentum and capitalise on significant revenue growth, according to the founder.

A critical issue for investors is the company’s path to profitability, especially given its current loss of Rs 1,200 crore. Aggarwal emphasised the importance of a profitable business model and outlined the company’s strategy for achieving positive Ebitda. “Profitability is a crucial aspect of our journey... Over time, as manufacturing scales and volumes increase, we anticipate reaching a tipping point where Ebitda will turn positive. The path to profitability is closely linked to our production volumes."

Speaking about the timeline for Ola’s gigafactory, Aggarwal confirmed that the project is on track and set to begin operations early next year. "We have already started trial production and are rigorously testing the facility,” he said. This development is expected to significantly boost the company’s production capacity and contribute to its long-term goals.