Ola IPO Subscribed 1.65x in Retail Category: Did You Subscribe?

The electric vehicle manufacturer Ola Electric Mobility Limited has opened its IPO for subscription on August 02, 2024 and will close on August 06, 2024. OLA Electric IPO is a book built issue of ₹6,145.56 crores. The issue is a combination of fresh issue of 72.37 crore shares aggregating to ₹5,500.00 crores and offer for sale of 8.49 crore shares aggregating to ₹645.56 crores.

OLA Electric has set the IPO price band at ₹72 to ₹76 per share. The minimum lot size for an application is 195 Shares. The minimum amount of investment required by retail investors is ₹14,820. The minimum lot size investment for sNII is 14 lots (2,730 shares), amounting to ₹2,07,480, and for bNII, it is 68 lots (13,260 shares), amounting to ₹10,07,760.

Day Wise Subscription

On the first day of subscription, OLA Electric IPO subscribed 0.37x. The public issue subscribed 1.65 times in the retail category, 0.00 times in QIB, and 0.22 times in the NII category.

Grey Market Premium

OLA Electric IPO last GMP is ₹12.20, last updated Aug 2nd 2024. With the price band of 76.00, OLA Electric IPO’s estimated listing price is ₹88.2 (cap price + today’s GMP).The expected percentage gain/loss per share is 16.05%.

About Ola Electric Mobility Limited

Ola Electric Mobility Limited was established in 2017 with the primary goal of producing electric vehicles and certain essential parts for them, like motors, battery packs, and vehicle chassis, at the Ola Futurefactory.

The company has announced four new products and has launched seven since August 2021. The first electric vehicle (EV) model, the Ola S1 Pro, was delivered in December 2021. The Ola S1, Ola S1 Air, Ola S1 X, and Ola S1 X+ were then delivered in subsequent years. The business unveiled a variety of motorbikes, including the Diamondhead, Adventure, Roadster, and Cruiser, along with new electric vehicle models on August 15, 2023.

Stay ahead with the latest on upcoming IPO and discover promising opportunities for investment.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.