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<ul><li><keyword id="19938729" type="General" weightage="20" keywordseo="ather-energy" source="keywords">Ather Energy</keyword> has filed draft papers for a ₹3,100 crore IPO with SEBI.</li><li>Ola Electric had raised ₹5,500 crore in its IPO in August.</li><li>Ather Energy plans to set up a new manufacturing facility in Maharashtra.</li></ul>Electric two-wheeler manufacturer Ather Energy has announced that it is going public and raising ₹3,100 crore in its initial public offering (IPO). The Tarun Mehta-led company has filed its Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (SEBI). The proposed IPO includes a fresh issue of shares worth ₹3,100 crore and an offer for sale (OFS) component of 2.2 crore shares by promoters and investors. <keyword id="20253467" type="General" weightage="20" keywordseo="tarun-mehta" source="keywords">Tarun Mehta</keyword> and <keyword id="19993824" type="General" weightage="20" keywordseo="swapnil-jain" source="keywords">Swapnil Jain</keyword> will offload 10 lakh shares each. Caladium Investment Pte Ltd, National Investment and Infrastructure Fund II, Internet Fund III Pte Ltd and 3State Ventures Pte. Ltd are among the investors selling their shares. <div type="Article" hostid="261" msid="109128809" title="Ather Rizta launched in India as the Hero MotoCorp-backed EV forays into the family scooter segment" mstype="2" mssubtype="0"></div> Ather Energy’s IPO is nearly half of what its rival Ola Electric raised through its <a href="https://www.businessinsider.in/stock-market/webstories/ola-electric-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112185870.cms">IPO</a> last month. This will make Ather Energy the second electric two-wheeler maker in India to go public. Ather Energy is backed by Hero MotoCorp, which has a 37.2% stake in the EV maker. Hero MotoCorp will not sell its shares in the IPO. Apart from Hero MotoCorp, Flipkart co-founders Sachin Bansal and Binny Bansal have also invested in Ather Energy. The EV maker will use the funds raised in the IPO to establish a manufacturing facility in Maharashtra and invest in research and development. The proposed manufacturing facility in Maharashtra will come up in Chattrapati Sambhaji Nagar district. The company currently has a manufacturing facility at Hosur, Tamil Nadu. Ather Energy sells four electric scooters: the 450S, 450X, 450 Apex and the recently launched <a href="https://www.businessinsider.in/business/auto/news/ather-rizta-electric-scooter-launched-in-india-starting-at-rs-109999/articleshow/109128809.cms">Rizta</a>, a family scooter. The company also sells products like the Halo smart helmet and other scooter accessories. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-iphone-16-pro-max-india-price-specifications/articleshow/113204340.cms">iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-iphone-16-plus-price-specs/articleshow/113203568.cms">iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900</a> <a href="https://www.businessinsider.in/stock-market/news/shree-tirupati-balajee-agro-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113196203.cms">Shree Tirupati Balajee Agro IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI

<ul><li><keyword id="19897349" type="General" weightage="20" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="153" meta.entityid="Ola Electric">Ola Electric</keyword> has announced its plans to expand its sales and service infra to 10,000 outlets.</li><li>The company said it plans on reaching this by the end of 2025 and has initiated a network partner programme.</li><li>The programme is aimed at pushing sales into tier-2 and tier-3 cities.</li></ul>Bhavish Aggarwal-led Ola Electric on Thursday said it will establish 10,000 sales and service outlets by the end of 2025 to expand its reach across smaller cities and towns. The electric two-wheeler maker said it has initiated a network partner programme aimed at taking EV sales further into tier-2 and tier-3 cities, including urban pockets where EV penetration remains low. Under the initiative, the company has reportedly on-boarded 625 partners to expand its sales footprint across India, it said in a statement. The company further plans to have 1,000 partners ahead of the festive season this year, it added. <div type="twitter" handle="bhash" handlename="bhash" favoritecount="0" retweetcount="0" id="1839215479480549447"></div> Ola Electric said it aggressively plans to expand its network by on-boarding 10,000 partners, across sales and service, by the end of 2025. This, the company claims will give it an edge over its competitors. The company currently has around 800 company-owned stores, and with the network partner programme, it will have nearly 1,800 sales and service touch points ahead of the upcoming festive season. "Our D2C model has been extremely successful in driving sustainable business growth. The Network Partner Program will further amplify the benefits of our D2C network as it requires limited capital investment from partners and can be scaled up really fast," Ola Electric Chairman and MD Bhavish Aggarwal stated. While the company-owned stores will be the anchors of sales and service network, this programme will be instrumental in expanding the EV footprint deeper into the urban and rural markets, he added. "We will continue to expand and invest in our front-end network to accelerate EV adoption to #EndICEAge, and by the end of next year, will have 10,000 Network Partners across the country," Aggarwal said. Ola Electric sells electric scooters and bikes priced from ₹74,999 to ₹1,99,999. Ola Electric reported a sale of 27,506 units in August 2024, up from 18,749 vehicles sold in August 2023, reporting a 46.7% year-on-year growth. This is however lower than its July 2024 sales of 41,711 vehicles. The sale of <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> has slowed down, amid reduced subsidies, an increase in customer issues with the vehicles and more. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a> <a href="https://www.businessinsider.in/stock-market/webstories/diffusion-engineers-ipo-quick-review-ipo-gmp-risk-factors-and-more/slidelist/113687580.cms">Diffusion Engineers IPO quick review – IPO GMP, risk factors and more</a> <a href="https://www.businessinsider.in/stock-market/news/manba-finance-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/113667907.cms">Manba Finance IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Ola Electric plans to expand sales and service infra to 10,000 outlets by 2025-end

Dev Accelerator Ltd, which provides <keyword id="21009289" type="General" weightage="20" keywordseo="flexible-office-spaces" source="keywords">flexible office spaces</keyword>, has filed a draft document with <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords" meta.keywordsubtype="org" meta.entityname="Sebi" meta.hostid="261" meta.entityid="Sebi">Sebi</keyword> to launch its initial public offering (IPO) to raise around ₹125 crore. Dev Accelerator (DevX) is promoted by the listed entity <keyword id="23437545" type="General" weightage="20" keywordseo="Dev-Information-Technology-Ltd" source="keywords" meta.keywordsubtype="org" meta.entityname="Dev Information Technology Ltd" meta.hostid="261" meta.entityid="Dev Information Technology Ltd">Dev Information Technology Ltd</keyword>. DevX's IPO is entirely a fresh issue of 2.47 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> (face value of ₹2), with plans to list on both the NSE and BSE. The company proposes to utilise ₹68.95 crore for "fit-outs" in the new centres and their security deposits. It proposes to use Rs 30 crore towards repayment and/or prepayment (in full or in part) of certain borrowings, according to the draft red herring prospectus (DRHP) filed with markets regulator Sebi. The remaining amount will be allocated for general corporate purposes, including strategic initiatives, strengthening marketing capabilities and brand-building exercises, payment of lease liabilities, among others. This <keyword id="20083428" type="General" weightage="20" keywordseo="capital-infusion" source="keywords">capital infusion</keyword> will enable DevX to expand its footprint in major cities, including Mumbai, Gurugram, Noida, Pune, Chennai, GIFT City, Ahmedabad, Vadodara, Rajkot, Surat, Goa, and Jaipur. As of August 31, 2024, DevX had 25 centres in more than 10 cities, including Ahmedabad, Vadodara, Hyderabad, Delhi, and Udaipur. The collaboration between Dev IT's expertise in digital transformation and DevX's flexible workspace solutions creates a unique synergy, offering integrated solutions for enterprises looking to enhance operational efficiency. On the IPO, Pranav Pandya, Founder &amp; Chairman of Dev Information Technology Ltd, said, "This significant milestone underscores our commitment to the dynamic growth of the flexible workspace sector in India." The funds raised will be instrumental in accelerating DevX's <keyword id="20389247" type="General" weightage="20" keywordseo="expansion-plans" source="keywords">expansion plans</keyword>, enabling it to enter new markets, enhance infrastructure, and invest in technology that drives efficiency, he said. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms" target="_blank">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a><a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms" target="_blank">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms" target="_blank">Upcoming smartphones launching in India in October 2024</a>

Dev Accelerator plans ₹125 crore IPO amid high demand for flexible office spaces

India's biggest <keyword id="19972015" type="General" weightage="20" keywordseo="e-scooter" source="keywords">e-scooter</keyword> maker, <keyword id="19897349" type="General" weightage="100" keywordseo="Ola-Electric" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola Electric" meta.hostid="261" meta.entityid="Ola Electric">Ola Electric</keyword>, has ramped up capacity at its service centres across the country by over 30% to transform its service and elevate the <keyword id="22742985" type="General" weightage="20" keywordseo="after-sales-experience" source="keywords">after-sales experience</keyword> of customers, sources said. The Softbank Group-backed firm, which commands nearly a third of the market share in India's e-scooter market, has added more than 50 <keyword id="23754615" type="General" weightage="20" keywordseo="service-centers" source="keywords">service centers</keyword> and has hired over 500 service technicians across new and existing service centres to streamline operations and clear all backlogs. Recently, the company announced that it has managed to clear about 99% of its complaint logjam, even as public backlash on the company's e-scooters continues to emerge almost every day. Reportedly, <keyword id="20127554" type="General" weightage="20" keywordseo="CCPA" source="keywords" meta.keywordsubtype="org" meta.entityname="CCPA" meta.hostid="261" meta.entityid="CCPA">CCPA</keyword> is set to probe this claim, with the company also onboarding Ernst &amp; Young for service transformation, strategy, and optimization of overall service processes. "The company has already cleared around two-thirds of the service backlog and should be able to clear the remaining in the next couple of weeks," said a senior official within the organization, requesting anonymity, to ANI. <keyword id="19945904" type="General" weightage="20" keywordseo="ola" source="keywords">Ola</keyword> was in the spotlight earlier this month following a public spat between its founder <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword> and standup comedian Kunal Kamra over the quality of service. Last week, <keyword id="20328940" type="General" weightage="20" keywordseo="HSBC-Global-Research" source="keywords" meta.keywordsubtype="org" meta.entityname="HSBC Global Research" meta.hostid="261" meta.entityid="HSBC Global Research">HSBC Global Research</keyword> maintained a 'buy' rating for Ola Electric shares with a target price of Rs 110 apiece, slashing it down from its earlier recommendation of Rs 140. The global research firm revisited Ola Electric's service centers a month after an earlier inspection in September and noted the need for substantial improvements in service centers. On NSE, Ola Electric shares dipped below its IPO issue price of Rs 76 on Tuesday, hitting its 52-week low of Rs 74.84. Today, it closed the day at Rs 80.90, up by 1.34%. At present, the company has a total market cap of Rs 35,683.61 crore. The stock closed at Rs 80.88, up by 1.28% today on the BSE. In September, founder and CMD Bhavish Aggarwal announced the #HyperService campaign to offer technology-led, best-in-class after-sales experience. As part of the announcement, Ola Electric plans to double the company-owned service network to 1,000 centers by December 2024. According to the government portal Vahan, Ola Electric has reinforced its leadership position in the category with an increased market share of over 30% in October 2024 so far, up from 27% in September 2024.

Ola Electric boosts service capacity by 30%; adds over 50 centers, and 500 technicians to clear complaint backlog

<ul><li><keyword id="19906087" type="General" weightage="20" keywordseo="hyundai" source="keywords">Hyundai</keyword> Motor India Limited is set to debut in India's stock market.</li><li>The IPO will open on October 15, making it the first car company in over two decades to go public in India.</li><li>Here’s everything you need to know about the South Korean automaker ahead of its IPO.</li></ul> Hyundai Motor India Limited, the Indian arm of South Korean automaker Hyundai Motor Company is all set to make its stock market debut in India as its initial public offering (IPO) opens on October 15. This will be the first market outside South Kores where the country is listed. Hyundai, which entered the Indian market in 1996 is one of the top automakers in India, moving between the second and third spots. The company emerged as the second biggest automaker in Hyundai. Since it entered the Indian market, the company has sold over 80 lakh cars in the country. Hyundai intends to establish India as a global manufacturing and export hub for the company and this might be an initial step in this direction. KFin Technologies is the registrar for the public issue and advisors for the issue include Kotak Investment Banking, Citi, HSBC, JP Morgan and Morgan Stanley. <h2>India’s biggest IPO</h2>Hyundai India is looking to raise ₹27,870 crore from the IPO, significantly higher than the ₹21,008 crore raised by the state-owned Life Insurance Corporation of India (LIC) in 2022, making it the biggest IPO in India’s history. <div type="Article" hostid="261" msid="111690863" title="The biggest IPOs in India’s history – LIC to Paytm, companies that have raised the most funds" mstype="2" mssubtype="0"></div> <h2>About the IPO</h2>The upcoming IPO from Hyundai is entirely an offer for sale (OFS), with the company looking to offload up to 17.5% of shares, which is 14.22 crore shares with a price band of ₹1865 to ₹1,960 per share. Bids can be made in a lot size of 7 shares or multiples of 7 shares. The IPO opens on October 15 and will close on October 18. While the allotment will be finalised on October 18, the shares will be listed on the stock exchange on October 22. At the upper end of the price band, Hyundai Motor India will be valued at $18 billion (approx. ₹1.6 lakh crore), which is around 40% of its parent company, Hyundai Global’s $45 billion valuation. As it is entirely an OFS, the company won’t receive any funds and all the funds raised will go to Hyundai Global. However, the company has said that part of the funds will be allocated towards research and development, especially in electric vehicles (EVs) and hybrid technologies. The company has reserved 7.78 lakh shares with a value of ₹131 to ₹138 crore for employees. Employees will get these shares at a discount of ₹186 per share. <h2>First carmaker in over two decades to go public</h2>In addition to being the biggest IPO in the country’s history, this will also make the company the first car maker to go public in India in over two decades. The last car maker to go public was Maruti Suzuki, which held its IPO in 2003. <div type="Article" hostid="261" msid="114120828" title="The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?" mstype="2" mssubtype="0"></div> With the IPO, the company will join other car makers such as Maruti Suzuki, Tata Motors and Mahindra &amp; Mahindra to be listed in the Indian stock market. <h2>Hyundai in India</h2>The Indian market contributes to around 15% of the company’s global sales and is the third biggest market for the company after the United States and South Korea. The company has already invested around $5 billion in the country and plans to invest an additional $4 billion over the next few years. Company’s financials <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period ended </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">PAT </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-22 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹47,966.05 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,901.59 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-23 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹61,436.64 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,709.25 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mar-24 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹71,302.33 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,060.04 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">June-24 </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹17,567.98 </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,489.65 </td></tr></tbody></table> Amount in ₹ crore Hyundai recorded a revenue of ₹71,302.33 crore in FY24, up from ₹61,436.64 crore in FY23 and ₹47,966.05 crore in FY22. During the 3-month period from April to June 2024, the company earned a revenue of ₹17,567.98 crore. The company recorded a profit after tax (PAT) of ₹6,060.04 crore in FY24, up from ₹4,709.25 crore in FY23 and ₹2,901.59 crore in FY22. The company recorded a PAT of ₹1,489.65 crore from April to June 2024. “Hyundai Motor India is seeking a slightly higher premium to Maruti and lower to M&amp;M based on price earnings ratio while Hyundai stands to be expensive in terms of price to book value. Hyundai India justifies its premium ask considering its leadership in SUV sales, world-class brand image followed by better safety ratings, Multi-segment growth visibility largely been driven by its popular SUVs, particularly the Creta, Exter, and Venue models in the Indian market,” said Prashanth Tapse, Senior VP (Research), Mehta Equities. <h2>Hyundai paid ₹10,780 crore dividend in FY24</h2>Ahead of the IPO, Hyundai paid a ₹10,780 crore dividend in FY24, up from ₹4,653.42 crore dividend in FY23 and ₹1,493.45 crore dividend in FY22. With this, the company’s cash and bank balance has declined from ₹17,741.15 crore a year ago to ₹9,017.35 crore. <div type="Article" hostid="261" msid="113925972" title="September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors" mstype="2" mssubtype="0"></div> “As a result, our ability to utilise our internal accruals and cash and bank balances has been reduced. Any resultant insufficiency in our internal accruals and cash and bank balance may require us to borrow money to meet our growth requirements and incur borrowing costs, which may adversely impact our profitability, financial ratios and results of operations,” the company said in its Red Herring Prospectus (RHP). <h2>Declining grey market premium</h2>Grey market premium (GMP) is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. In essence, it is the premium above the issue price of a share. The GMP of Hyundai has been on a decline, from ₹570 around two weeks ago to ₹130. <h2>Key risks to remember</h2>Here are some of the key risks that the business faces: <h3>Rising part prices</h3>There has been an increase in prices of key vehicle parts over the years, especially chipsets. A further rise in price may impact the company’s profitability in the coming years. <h3>Production disruptions</h3>The company has said that any disruption to its Chennai plant will adversely impact the production and the company’s finances. <h3>Supplier dependency</h3>Another risk to keep in mind is the company’s dependency on its suppliers. Any disruption in its supply chain will adversely impact its production and profitability. <h3>Competition</h3>Hyundai alternates between the second and third position in the Indian car market. An increase in competition, with the increased sales of Mahindra and Mahindra, the company faces a new competitor. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/the-ola-electric-saga-are-surge-in-complaints-and-declining-market-share-a-wake-up-call-for-bhavish-aggarwal/articleshow/114120828.cms">The Ola Electric Saga: Are surge in complaints and declining market share a wake-up call for Bhavish Aggarwal?</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-selling-cars-in-india-in-september-2024-maruti-suzuki-dominates-with-seven-cars/slidelist/114112295.cms">Top selling cars in India in September 2024 – Maruti Suzuki dominates with seven cars</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-leads-the-first-phase-of-festive-sales-with-a-20-market-share/articleshow/114070723.cms">Samsung leads the first phase of festive sales with a 20% market share</a>

Hyundai IPO review – Everything you need to know about India’s biggest IPO

<ul><li><keyword id="19945904" type="General" weightage="20" keywordseo="Ola" source="keywords" meta.keywordsubtype="org" meta.entityname="Ola" meta.hostid="261" meta.entityid="Ola">Ola</keyword> is reportedly looking to re-enter the <keyword id="19963428" type="General" weightage="20" keywordseo="quick-commerce" source="keywords">quick commerce</keyword> business.</li><li>The company is also planning to offer UPI services to customers.</li><li>The company’s earlier quick commerce service, <keyword id="22710114" type="General" weightage="20" keywordseo="ola-dash" source="keywords">Ola Dash</keyword> was shut in 2022.</li></ul> Ola tried its hand in the quick commerce business with Ola Dash but failed to crack the market and wind up operations in 2022. Amid the rising popularity of quick commerce apps such as <keyword id="20069203" type="General" weightage="20" keywordseo="Blinkit" source="keywords" meta.keywordsubtype="org" meta.entityname="Blinkit" meta.hostid="261" meta.entityid="Blinkit">Blinkit</keyword>, <keyword id="19939135" type="General" weightage="20" keywordseo="Swiggy-Instamart" source="keywords" meta.keywordsubtype="org" meta.entityname="Swiggy Instamart" meta.hostid="261" meta.entityid="Swiggy Instamart">Swiggy Instamart</keyword> and Zepto, Ola is now looking to re-enter the business. According to a<a href="https://economictimes.indiatimes.com/tech/technology/ola-drawing-up-a-route-map-to-join-quick-commerce-party/articleshow/112354202.cms"> report</a> by Economic Times, <keyword id="20138354" type="General" weightage="20" keywordseo="ANI-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="ANI Technologies" meta.hostid="261" meta.entityid="ANI Technologies">ANI Technologies</keyword>, the parent company of <keyword id="20138355" type="General" weightage="20" keywordseo="ola-cabs" source="keywords">Ola Cabs</keyword> is planning on setting up <keyword id="21641710" type="General" weightage="20" keywordseo="dark-stores" source="keywords">dark stores</keyword> to ride the quick commerce wave. <h2>What are dark stores?</h2>Dark stores are special warehouses used to fulfil online orders. They are not open to the public and are designed to make packing and shipping items fast and efficient. Dark stores are often used by grocery stores, supermarkets, and other retailers to handle the growing demand for online shopping. The term "dark" refers to the fact that these stores are not open to the public, as they are not intended for in-store shopping. <div type="Article" hostid="261" msid="112288793" title="Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market" mstype="2" mssubtype="0"></div> According to the report, the dark stores will be operated by Ola and the company is planning on deploying robots to minimize human involvement. “It's a dark store as a service where the whole setup will be delivered with significant automation but there will be some people involved,” a source familiar with the matter told ET. <h2>Ola plans to offer UPI services</h2>It’s not just quick commerce, Ola is reportedly planning on offering UPI services to its customers. The company already has the Ola Money app, which has found few takers. The company had converted from a full wallet to a small prepaid instrument (PPI) wallet earlier this year. <keyword id="19914967" type="General" weightage="20" keywordseo="Bhavish-Aggarwal" source="keywords">Bhavish Aggarwal</keyword> is expected to talk about the company’s upcoming initiatives at an event on August 15. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a> <a href="https://www.businessinsider.in/business/auto/webstories/top-10-selling-cars-in-india-in-july-2024/slidelist/112337262.cms">Top 10 selling cars in India in July 2024 – 6 out of 10 are from Maruti Suzuki</a> <a href="https://www.businessinsider.in/stock-market/news/ola-electric-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112319824.cms">Ola Electric IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart

Shares of <keyword id="19956271" type="General" weightage="100" keywordseo="Ola-Electric-Mobility" source="keywords">Ola Electric Mobility</keyword> were in a freefall today, tanking about 4.55% on the NSE and 4.88% on BSE. Today also marked 30 days since the company was listed on the bourses (August 9th), bringing down shutters on the one-month lock-in window anchor investors are mandated to hold stocks for, before deciding to offload 50% of shareholding. Around 18.18 crore shares, or about 4% of company's outstanding shares were eligible for trading in the market post the 30-day lock-in, which hurtled Ola's stock towards Rs 100. While the stock managed to gain some ground later in the day, and was trading at Rs 114.10 when the markets closed today, slightly up from its intraday low of Rs 109. However, it still remained a far cry from its all-time high price of Rs 157.4, which it had hit on August 20th, 2024. Ola Electric, which currently dominates the Indian EV space, debuted on stock exchanges last month, and was looking to raise Rs 6,145.56 crore via fresh issue, along with an OFS (offer for sale) of 8.49 crore equity shares. The IPO was oversubscribed by around 4x. Going ahead, the Bhavish Aggarwal-led startup is also set to face intense competition from fellow EV maker Ather Energy. With its IPO set to hit the markets soo, Ather is looking to raise Rs 3,100 crore via fresh issue, and an OFS of about 2.2 crore equity shares. Per the DRHP (draft red herring prospectus) filed by Ather, its net worth for FY24 stood at Rs 545.9 crore. The remaining 50% of Ola Electric's shares will be eligible for offloading by anchor investors in 60 days from now, or 90 days since the date of allotment. While this event will certainly test Ola's buoyancy in the market, the fact remains that Ola was off to a stellar start days after its listing, when the stock price accelerated to Rs 157.4 on August 20th, 2024. This skyrocketed the company's valuation well beyond that of established Indian 2-wheeler giants like Hero Moto Corp and Bajaj, albeit briefly. In fact, for a small period, Ola Electric Mobility had recorded valuations higher than that of Tesla's. For perspective, Ola's market capitalization, as of today, stood at Rs 50,327.57 crore. Bajaj Auto, which listed on the exchanges in 2008, presently has a market value of Rs 3,02,993.79 crore, while Hero Moto Corp, which was listed in 2003, currently has a market value of Rs 1,14,788.59 crore. However, ever since hitting this peak on August 20th, Ola's prices have only been on a downward journey. However, now that the stock has witnessed a price correction of sorts, the question remains- has Ola corrected enough, or are we still in for further downside? As per SEBI registered Investment Advisor Gaurav Goel, Ola continues to trade in the expensive zone despite recent correction. "The recent mercurial rise in the stock has been more on the promise it holds for the future. It is the largest <keyword id="23099550" type="General" weightage="20" keywordseo="E-Scooter-Manufacturing" source="keywords">E-Scooter Manufacturing</keyword> company in India, with 31% market share in the E2W sector, selling 3,29,618 scooters in FY24. Recently, it also forayed into the motorcycle segment with several new “Roadster” models at an attractive pricing. It is building an Ola Gigafactory for cell production in Tamil Nadu, and a Battery Innovation Centre in Bangalore", Goel explained. "However, we feel that despite attractive future plans, the stock is currently overpriced. Despite rising revenues, we need to see how quickly it is able to translate widening losses into profits", he continued. <h2>Gaping holes, take a long-term approach </h2>It is hard to overlook the wide, year on year losses that the company continues to incur. As of March 2024, the company had racked up an operating loss of Rs 1,266 crore. Per its Q1FY25 financials, the company's losses before taxes during April-June 2024 grew to Rs 347 crore, up from Rs 267 crore in the year-ago period. The company's cash flows from operating activities continued to be in red, rising from Rs 2,520.25 crores in March 2021 to Rs 15,072.71 crore as of March 2023. Generally, if a company is regularly registering negative cash flows from its primary, operational activity, it is a troubling sign, indicating that the company is spending more than what its making. Ola continues to rack up major losses in its cell business, which reported a loss of Rs 5 crore in Q1FY25. The segment's operating expenses, however, doubled from Rs 11 crore in Q1FY24 to Rs 22 crore in Q1FY25. Per Agrawal, the indigenously developed 4680 Bharat Cell, which will be integrated in all Ola vehicles starting Q1FY26, will help in bettering the company's profit margins, given that cells constitute around 30-35% of overall vehicle's cost. Which is why experts suggest not to buy into any short-term euphoria surrounding the stock, and instead, opt for a long-term approach. While there is scope, it is largely unchartered waters, which will have to face the tides of multiple market volatilities and cycles, before it starts to generate sustainable, significant returns. Goel believes that while the new vehicle segment is a good space to enter, the competition here is going to be stiff. Customer actual response in terms of sales is yet uncertain. "We recommend a buy on dips on this stock. An entry level of Rs 100 would be good point for purchase. It should be kept for the long-term, for a period of at least 3-5 years for realization of its potential"

Shares of Ola Electric have tapered down from their record-highs. Is this a good time to buy in?

Homegrown electric two-wheeler manufacturer <keyword id="4393078" type="General" weightage="20" keywordseo="ola-electric" source="Orion">Ola Electric</keyword> aims to raise nearly Rs 5,800 crore through an Initial Public Offering (IPO) and is set to file its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) by December 20, media reports said on Monday. According to the reports, the company is looking to list at a valuation of more than $7 billion by early 2024. Through the IPO, Ola Electric plans to expand its EV business and establish a lithium-ion cell manufacturing facility, the reports said. The company started sales in December 2021 and has sold over 353,000 units to date. Meanwhile, Bhavish Aggarwal-driven Ola Electric's net loss nearly doubled to Rs 1,472 crore in FY23, from Rs 784.1 crore in the previous fiscal year, as expenses surged significantly. The electric vehicle company reported an EBITDA loss of Rs 1,318 crore as its total expenses jumped to Rs 3,383 crore, in comparison to Rs 1,240 crore in FY22. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) is a measure of core corporate profitability. The company is now targeting an EBITDA profitability of Rs 803 crore in FY25. The company saw its losses growing nearly 293 per cent to Rs 784 crore in FY22.

Ola Electric aims to raise nearly Rs 5,800 cr via IPO, to file DRHP

<ul><li>Two <keyword id="22164915" type="General" weightage="20" keywordseo="mainboard-IPOs" source="keywords">mainboard IPOs</keyword> are scheduled in the last week of June 2024.</li><li>Two companies are looking to raise ₹1,671 crore from the primary market.</li><li>Here’s everything you need to know about the upcoming <keyword id="20020566" type="General" weightage="20" keywordseo="IPOs" source="keywords">IPOs</keyword> this week.</li></ul> Two new companies are set to enter the primary market with their initial public offering (IPO) scheduled this week. Apart from the two mainboard IPOs, eight small and medium enterprises (SME) are also looking to raise funds. <cmsannotation type="cmsannotation" annotationid="IPOs this week" comment="subhead" text="IPOs this week">IPOs this week</cmsannotation> <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue size </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Start date </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">End date </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Allied Blenders </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,500 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">25 June </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">27 June </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vraj Iron and Steel </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹171 crore </td><td style="border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">26 June </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">28 June </td></tr></tbody><tbody></tbody></table> <cmsannotation type="cmsannotation" annotationid="Allied Blenders look to raise ₹1,500 crore" comment="subhead" text="Allied Blenders look to raise ₹1,500 crore"><keyword id="227693" type="General" weightage="20" keywordseo="Allied-Blenders" source="Orion">Allied Blenders</keyword> look to raise ₹1,500 crore</cmsannotation> Out of the two IPOs, Allied Blender is the major IPO. The Mumbai-based Indian-made foreign liquor (IMFL) company is in the market to raise ₹1,500 crore. Out of this, ₹1,000 crore is a fresh issue and ₹500 crore is an offer for sale (OFS) component. The <keyword id="12780703" type="General" weightage="20" keywordseo="Allied-Blenders-ipo" source="Orion">Allied Blenders IPO</keyword> will open on June 25 and end on June 27. The company’s shares are expected to be listed on July 2. <cmsannotation type="cmsannotation" annotationid="Vraj Iron and Steel" comment="subhead" text="Vraj Iron and Steel"><keyword id="22109980" type="General" weightage="20" keywordseo="Vraj-Iron-and-Steel" source="keywords" meta.keywordsubtype="org" meta.entityname="Vraj Iron and Steel" meta.hostid="261" meta.entityid="Vraj Iron and Steel">Vraj Iron and Steel</keyword></cmsannotation> Vraj Iron and Steel, a Raipur-based manufacturer of sponge iron, M.S. billets, and TMT bars is looking to raise ₹171 crore through its IPO. This is a completely fresh issue and there is no OFS component. The <keyword id="20038648" type="General" weightage="20" keywordseo="Vraj-Iron-and-Steel-ipo" source="Orion">Vraj Iron and Steel IPO</keyword> will open on June 26 and end on June 28. The company’s shares are expected to be listed on July 3. <cmsannotation type="cmsannotation" annotationid="SME IPOs this week" comment="subhead" text="SME IPOs this week">SME IPOs this week</cmsannotation> Apart from the two mainboard IPOs, eight SMEs are also planning on raising funds this week. The SMEs include Mason Infratech, Shivalic Power Control, Diensten Tech, Petro Carbon and Chemicals and more. SEE ALSO: <a href="https://www.businessinsider.in/sports/webstories/india-vs-australia-t20-world-cup-head-to-head-record-key-players-and-more/slidelist/111226804.cms">India vs Australia T20 World Cup – head-to-head record, key players and more</a> <a href="https://www.businessinsider.in/stock-market/news/dee-development-engineers-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111221658.cms">DEE Development Engineers IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-gets-sebi-approval-for-5500-crore-ipo/articleshow/111141404.cms">Ola Electric gets SEBI approval for ₹5,500 crore IPO</a>

IPOs this week – Allied Blenders and Vraj Iron and Steel look to raise ₹1,671 crore

Former <keyword id="19919639" type="General" weightage="20" keywordseo="Bangladesh" source="keywords">Bangladesh</keyword> prime minister <keyword id="66026" type="General" weightage="20" keywordseo="Sheikh-Hasina" source="Orion">Sheikh Hasina</keyword>'s plan to travel to London has hit a roadblock over some "uncertainties" and she is unlikely to move out of India for the next couple of days, people familiar with the matter said on Tuesday. <keyword id="20109731" type="General" weightage="20" keywordseo="Hasina" source="keywords">Hasina</keyword>, who landed at the Hindon airbase on Monday in a C-130J military transport aircraft hours after resigning as the prime minister, has been shifted to an unspecified location under tight security, they said. The former Bangladesh prime minister, accompanied by her sister Sheikh Rehana, planned to leave for London from India to take temporary refuge but the option is not being pursued now. This is after the <keyword id="19922618" type="General" weightage="20" keywordseo="UK" source="keywords">UK</keyword> government indicated that she may not get legal protection against any possible probe into the massive violent protests in her country, they said. The Awami League leader planned to travel to London through India and her aides informed Indian authorities about it before she landed in Hindon, the people cited above said. Hasina decided to travel to London as Rehana's daughter Tulip Siddiq is a member of the British Parliament. Tulip is economic secretary to the Treasury and Labour MP for Hampstead and Highgate. In a statement, British foreign secretary David Lammy said in London on Monday that Bangladesh has seen unprecedented levels of violence and tragic loss of life in the last two weeks and people of the country "deserve a full and independent UN-led investigation into the events". The people in the know said Hasina has apprised New Delhi about her possible future steps. It is also learnt that Hasina has family members in Finland as well and that is why she also contemplated leaving for the northern European country. While saying that Hasina's travel plans have hit certain issues and she may stay in the country for the next couple of days, the people also described the situation as dynamic with no definitive path or clarity on the matter. The 76-year-old who ruled the South Asian country with an iron fist for 15 years, resigned as the prime minister following the massive protests that initially began as an agitation against a job quota scheme but weeks later morphed into a mass movement demanding her ouster from power. The controversial quota system provided for 30 per cent reservations in civil services jobs for the families of veterans who fought the 1971 liberation war. Hasina's Awami League retained power in the parliamentary election in January that was boycotted by the opposition parties. The former Bangladesh prime minister left her official residence Ganabhavan in a military chopper to an airbase, the sources said. From the airbase, she flew into Hindon in a C-130 military transport aircraft of the Bangladesh Air Force, they said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms" target="_blank">Neeraj Chopra’s Paris Olympics journey to begin with qualification round today – top rivals to look out for</a><a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a>

Sheikh Hasina's plan to travel to UK hits roadblock, may be in India for couple of days

German carmaker Mercedes-Benz expects <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> to become its third biggest market in its 'Region Overseas' over the next 2-3 years with demand anticipated to remain strong for luxury products, according to a senior company executive. The Region Overseas for <keyword id="20034825" type="General" weightage="20" keywordseo="mercedes-benz" source="keywords">Mercedes Benz</keyword> comprises 118 countries, excluding North America, Europe and China. India is the fifth largest market in the region after Japan, South Korea, Australia and Turkey. The sales gap between India and Turkey is around 8,000 units per year. "Our Region Overseas markets which encompass 118 markets across the world and India happens to be market number five for us. So you can imagine the relevance and importance it serves not only today, but also for the future of the Mercedes Benz brand," Mercedes-Benz AG Head of Region Overseas, <keyword id="20836954" type="General" weightage="20" keywordseo="sagree-sardien" source="keywords">Sagree Sardien</keyword> told reporters here. When asked about the expected timeframe to achieve the target, she stated, "We are convinced that with the way the Indian market is developing, we should see this happening in the next two to three years." Terming India a strategic market for the brand, <keyword id="20836953" type="General" weightage="20" keywordseo="sardien" source="keywords">Sardien</keyword> noted that the company has seen sales of its high-end models grow in double digits for the last couple of years and expects the same to continue this year and beyond. She noted that the company will add 12 new models, including three battery electric vehicles, in the market this year. The company also plans to tap smaller cities as it looks to establish sales outlets in 10 new locations ranging from Jammu to <keyword id="19910725" type="General" weightage="20" keywordseo="kottayam" source="keywords">Kottayam</keyword> to scale operations, Sardien stated. Mercedes-Benz India reported its highest ever sales of 17,408 units in 2023. Sardien said the electrification journey in India is picking up slowly for Mercedes-Benz with 4 per cent of total sales in the country coming from EVs. "I completely believe that we will see a double-digit (growth) in electrification for our product range within this market," she said. "Customers' preferences are obviously at a much slower pace than the demand we expected," she said adding the company would go according to the transformation of customers. Sardien noted that the company will not change its strategic direction. "It is clear that the future is electric for us, but we ensure that we cater for our customers' changing preferences and where market conditions are actually allowing," she said. When asked about the potential of the overall luxury car market in India, Sardien said it can touch 1 lakh unit mark probably by the end of this decade. "But I think there are some fundamental things that need to happen in the market and it is highly dependent on how customers transition here between the combustion engine and the battery electric vehicle architecture," she added. The luxury car market in India is around 47,000 units per annum and remains a miniscule part of the overall passenger vehicle segment which crossed the 41 lakh units mark last year. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-grow-by-24-in-february-2024-ola-electric-leads-with-over-40-market-share/articleshow/108227956.cms" target="_blank">Electric two-wheeler sales grow by 24% in February 2024, Ola Electric leads with over 40% market share</a><a href="https://www.businessinsider.in/business/auto/news/byd-seal-electric-sedan-launched-in-india-starting-at-41-lakh/articleshow/108234000.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/byd-seal-electric-sedan-launched-in-india-starting-at-41-lakh/articleshow/108234000.cms" target="_blank">BYD Seal electric sedan launched in India starting at ₹41 lakh</a><a href="https://www.businessinsider.in/stock-market/news/mukka-proteins-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/108212514.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/mukka-proteins-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/108212514.cms" target="_blank">Mukka Proteins IPO allotment – How to check allotment, GMP, listing date and more</a>

Expect India to be third largest market among 118 countries: Mercedes-Benz

<ul><li><keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> believes this allocation will reward Ola’s ‘high impact’ employees. </li><li>The company claims to have seen a strong recovery in its ride hailing business. </li><li>Earlier this month, Ola raised $500 million in a pre-IPO round.</li></ul>Ride hailing giant Ola has expanded its employee stock option plan (<keyword id="120103" type="PERSON" weightage="20" keywordseo="Esop">ESOP</keyword>) pool to ₹3,000 crore. It has also allotted an additional ₹400 crore worth stock to employees ahead of its initial public offering (IPO), the company said in a press statement on Wednesday. ESOPs are employee benefit plans to offer employees a limited number of shares in the company. The company believes that this allocation will reward Ola’s high impact employees and lead to a long-term wealth creation for them. “Our expanded ESOP programme, along with the fresh stock allocation of ₹400 crore, enables our key talent to participate in the long term wealth creation opportunities generated by their innovations and the impact they create. It will also reinforce their sense of ownership and align their growth with that of the company as we continue to accelerate the world’s transition to sustainable mobility” said Bhavish Aggarwal, Ola’s cofounder and chief executive. Ola, in its press note, also highlighted that the company has seen strong recovery in its ride hailing business over the last several months. The company was severely hit by the first wave of COVID-19, as its revenue declined by 95% in April-May 2020. This led to layoffs in the company, impacting over<a href="https://www.businessinsider.in/business/startups/news/ola-fired-1400-employees-as-revenue-is-hit-by-95-in-the-last-two-months/articleshow/75843656.cms"> 1,400</a> employees in May 2020. The Bengaluru-based startup got the wheels for its IPO rolling earlier this month, when it raised <a href="https://www.businessinsider.in/business/startups/news/ola-app-raises-500-million-from-temasek-and-warburg-ahead-of-ipo/articleshow/84261607.cms">$500 million from investment titans</a> Temasek and Warburg Pincus in a pre-IPO round. The company’s chief executive Aggarwal also infused an undisclosed amount in the startup in his personal capacity. The company was founded in 2010 by Aggarwal and Ankit Bhati. It has marked its presence across three continents. It has raised $4 billion to date from marquee investors like SoftBank, Tencent, Steadview Capital, Eternal, Sailing Capital, China Eurasian Economic Cooperation Fund and others. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/droom-automobile-marketplace-raises-200-million-in-a-pre-ipo-round-at-unicorn-valuation/articleshow/84818567.cms" data-type="tilCustomLink" style="">Automobile marketplace Droom is raising $200 million in a pre-IPO round at unicorn valuation</a> <a href="https://www.businessinsider.in/business/startups/news/the-whole-truth-a-healthy-packaged-food-brand-raises-6-million-from-sequoia-capital/articleshow/84815594.cms" style="">The Whole Truth, a ‘healthy’ packaged food brand, raises $6 million to enter new categories</a> <a href="https://www.businessinsider.in/stock-market/news/rolex-rings-ipo-opens-on-july-28-and-closes-on-july-30-with-a-price-band-of-880-900/articleshow/84813639.cms" style="">Rolex Rings IPO opens today with a price band of ₹880-900</a>

You Searched For "ola ipo plans" and got 12 results

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