Ola Electric IPO Allotment: Key Details and Expectations
The initial public offering (IPO) of Ola Electric Mobility Ltd, a prominent electric two-wheeler manufacturer, concluded recently, and investors eagerly await the allotment of shares. With the subscription period spanning from August 2 to August 6, the allotment date is slated for August 7, and the listing date is set for August 9.
Ola Electric IPO Allotment Process
The IPO saw significant investor interest, and the company is expected to finalize the basis of allotment today. Once the allotment is finalized, eligible investors will receive their shares in their demat accounts by August 8. Those whose bids were unsuccessful will have their application money refunded on the same day.
Checking Ola Electric IPO Allotment Status
Investors can check the status of their Ola Electric IPO allotment online via the BSE website or the official portal of the IPO registrar, Link Intime India Private Ltd. To check allotment status, follow these steps:
Ola Electric IPO Allotment Status on Link Intime
- Visit the Link Intime India website for IPO allotment information: Link Intime IPO Allotment.
- Select ‘Ola Electric Mobility Limited’ in the ‘Select Company’ dropdown menu.
- Choose among PAN, Application No., DP/Client ID, or Account No/IFSC.
- Enter the required details as per the selected option.
- Click on ‘Submit’.
Your Ola Electric IPO allotment status will be shown on the screen.
Ola Electric IPO Grey Market Premium (GMP)
As of the latest updates, the Ola Electric IPO GMP shows a negative trend. On Wednesday, the grey market premium stood at a negative ₹3 per share, indicating that Ola Electric shares are trading at a discount of ₹3 in the grey market. This suggests an estimated listing price of ₹73 per share, a 4% discount to the IPO price of ₹76 per share.
Ola Electric IPO Subscription Status
The ₹6,145.56 crore IPO saw robust demand from investors during the subscription period. The issue attracted bids for 198.17 crore equity shares, compared to the 44.5 crore shares available, leading to an overall subscription rate of 4.45 times. Here’s a breakdown of the subscription across different investor categories:
- Retail Individual Investors (RIIs): Subscribed 4.05 times
- Qualified Institutional Bidders (QIBs): Subscribed 5.53 times
- Non-Institutional Investors (NIIs): Subscribed 2.51 times
Details of Ola Electric IPO
The Ola Electric IPO opened for public subscription on August 2 and closed on August 6. The allotment date is August 7, and the shares will be listed on both BSE and NSE on August 9. The price band for the IPO was set between ₹72 and ₹76 per share.
At the upper end of the price band, the company aimed to raise ₹6,145.56 crore through a combination of a fresh issue of 72.37 crore equity shares worth ₹5,500 crore and an offer-for-sale (OFS) component of 8.49 crore shares worth ₹645.56 crore.
Lead Managers and Registrar
The IPO is managed by Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, SBI Capital Markets, Citigroup Global Markets India, Goldman Sachs (India) Securities, ICICI Securities, and BoB Capital Markets as the book-running lead managers. Link Intime India Private Ltd. is the registrar for the IPO.
Ola Electric: Company Overview
The IPO is managed by book-running lead managers Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, SBI Capital Markets, Citigroup Global Markets India, Goldman Sachs (India) Securities, ICICI Securities, and BoB Capital Markets. Link Intime India Private Ltd. serves as the IPO registrar.
Ola Futurefactory
The company’s flagship manufacturing facility, the Ola Futurefactory, is a state-of-the-art plant where Ola Electric produces its EVs and key components. The Futurefactory is designed to be one of the largest and most advanced EV manufacturing plants in the world, showcasing Ola Electric’s commitment to innovation and sustainability.
Investment Potential and Future Prospects
Investing in Ola Electric offers exposure to India’s rapidly growing EV market. The company’s focus on technological innovation, coupled with strong manufacturing capabilities, positions it well for future growth. The funds raised from the IPO will be utilized to enhance production capacity, expand the product portfolio, and strengthen the company’s market presence both domestically and internationally.
Conclusion
The Ola Electric IPO represents a significant opportunity for investors to participate in the burgeoning EV market in India. With the allotment expected to be finalized today, investors are keenly watching the developments. Despite the current negative GMP, the long-term prospects for Ola Electric remain strong, given the company’s strategic initiatives and market positioning.
Disclaimer: The opinions and recommendations provided above reflect the views of individual analysts or brokerage firms and do not represent those of OSTP Media. We recommend that investors consult with certified experts before making any investment decisions.
Read More: OSTP Media | Tech, Auto, and Trending News