Ola Electric IPO Allotment Today: Check Status on Link Intime, BSE
The Ola Electric IPO allotment is a highly anticipated event, with the allotment of shares for the initial public offering (IPO) of Ola Electric Mobility Ltd expected to be finalized today, August 7. The IPO, which opened for subscription on August 2 and closed on August 6, has garnered significant attention from investors. The IPO listing date is set for August 9, and the company is likely to fix the basis of allotment today, followed by the crediting of shares into the demat accounts on August 8. Investors whose bids have been rejected will receive a refund of their money on the same day.
How to Check Ola Electric IPO Allotment Status Online
To check the Ola Electric IPO allotment status, investors can use either the BSE website or the official portal of the IPO registrar, Link Intime India Private Ltd. Here are the steps to check your allotment status on the Link Intime website:
- Visit the Link Intime India website: Link Intime IPO Allotment Status
- Select ‘Ola Electric Mobility Limited’ from the dropdown menu in the Select Company section.
- Choose your preferred mode of search: PAN, Application Number, DP/Client ID, or Account Number/IFSC.
- Enter the required details and click on ‘Submit’.
- Your Ola Electric IPO allotment status will be displayed on the screen.
Ola Electric IPO Grey Market Premium (GMP)
As of now, the Ola Electric IPO GMP is negative, with a discount of ₹3 per share. This indicates that Ola Electric shares are trading at a discount of ₹3 in the grey market. While GMP is not an official measure, it provides an indication of how the market perceives the IPO before the actual listing.
Ola Electric IPO Subscription Details
The Ola Electric IPO saw robust demand from investors, with the issue being subscribed 4.45 times in total. The IPO received bids for 198.17 crore equity shares against the 44.5 crore shares on offer. Here is a breakdown of the subscription across different categories:
- Retail Category: Subscribed 4.05 times
- Qualified Institutional Bidders (QIB): Subscribed 5.53 times
- Non-Institutional Investors (NII): Subscribed 2.51 times
Ola Electric IPO Details
The price band for the Ola Electric IPO was set at ₹72 to ₹76 per share. At the upper end of the price band, the company raised ₹6,145.56 crore from the issue. The IPO consisted of 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.
Book Running Lead Managers
The IPO was managed by a consortium of top financial institutions, including:
- Kotak Mahindra Capital Company
- BofA Securities India
- Axis Capital
- SBI Capital Markets
- Citigroup Global Markets India
- Goldman Sachs (India) Securities
- ICICI Securities
- BoB Capital Markets
Investor Categories and Allotment Process
The allotment process for the Ola Electric IPO involves categorizing investors into different groups, such as Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Investors. The allocation of shares is done proportionately based on the demand from each category.
QIBs are institutional investors who typically invest large sums of money and include entities like mutual funds, banks, and insurance companies. NIIs include corporates and high-net-worth individuals who invest a significant amount but do not fall under the retail category. Retail Investors are individual investors who invest smaller amounts.
Factors Influencing the Allotment
Several factors influence the allotment of shares in an IPO, including the number of applications received, the size of the investment, and the category of the investor. The allotment is done using a computerized process to ensure fairness and transparency. Investors who do not receive an allotment will have their application money refunded.
Ola Electric: A Leader in Electric Mobility
Ola Electric Mobility Ltd is at the forefront of the electric vehicle (EV) revolution in India. The company’s IPO has attracted significant attention due to its innovative approach and strong market presence. Ola Electric aims to transform the urban mobility landscape with its range of electric scooters and plans for future electric vehicles.
Investment Potential and Market Outlook
Investors are keen on the Ola Electric IPO due to the company’s growth potential and the increasing demand for sustainable mobility solutions. The funds raised from the IPO will be used to expand Ola Electric’s manufacturing capacity, develop new products, and enhance research and development capabilities.
Conclusion
The Ola Electric IPO allotment marks a significant milestone for the company and investors alike. With the finalization of the allotment today, investors can look forward to the listing of shares on August 9. The strong demand and subscription rates reflect investor confidence in Ola Electric’s vision and growth prospects. By following the steps outlined above, investors can easily check their allotment status and stay informed about the latest developments.
Read More: OSTP Media | Tech, Auto, and Trending News