Ola Electric, well-known for its popular electric scooters, has officially launched its Initial Public Offering (IPO) today. This is the first time the company is offering its shares to the public, giving everyone a chance to own a part of Ola Electric by buying shares.
Each Ola Electric share is priced between Rs 72 and Rs 76. To participate in the IPO, investors must buy at least 195 shares. The funds raised will support Ola Electric’s business expansion and the development of new electric vehicles.
Deciding whether to invest in Ola Electric shares can be tricky. The company is relatively new and faces tough competition in the electric vehicle market. However, with the rising popularity of electric vehicles and Ola Electric’s strong presence in the industry, investing could be promising. Remember, investing in shares always carries risks, and there’s a chance of losing money.
We’ll keep an eye on the number of shares sold during the IPO and monitor the share price once it starts trading on the stock market. Financial experts will also share their views on whether investing in Ola Electric is a smart move.
Listing Date: Ola Electric shares are expected to start trading on the stock market on August 13th, 2024.
On the first day of bidding for the Ola Electric IPO, the overall public issue was subscribed 0.08 times. The portion reserved for retail investors was filled 0.38 times, while the Non-Institutional Investors (NII) segment saw a subscription rate of 0.04 times.
Key Details of the Ola Electric IPO
- GMP Today: Market observers report that Ola Electric shares are trading at a premium of Rs 17 in the grey market, indicating strong interest.
- IPO Price Range: Each share is priced between Rs 72 and Rs 76.
- Subscription Period: The IPO opened today and will be available for bidding until August 6th, 2024.
- IPO Size: Ola Electric aims to raise Rs 6,145.56 crore from this IPO. Out of this, Rs 5,500 crore will come from issuing new shares, while Rs 645.56 crore is reserved for the Offer for Sale (OFS) route.
- Lot Size: Investors can buy shares in lots, with one lot comprising 195 shares.
- Allotment Date: Shares are tentatively scheduled to be allocated to investors on August 7th, 2024.
- IPO Registrar: Link Intime India Private Limited is managing the IPO process.
- Stock Exchange Listing: The shares are set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Final Thoughts
The launch of Ola Electric’s IPO is a major event in the company’s journey and the electric vehicle industry. Although the initial response has been slower than expected, the coming days will provide more clarity on investor interest. Deciding to invest in Ola Electric depends on your belief in the company’s future and your willingness to take on investment risks. Always make informed decisions and weigh both the potential rewards and risks carefully.