Ola Electric IPO Subscribed 1.11x on Day 2

Ola Electric IPO witnessed increased interest from retail investors with an increase in subscriptions. OLA Electric IPO offers 80,86,99,625 shares. 24,23, 70,750 (29.97%) to QIB, 12,11,85,387 (14.99%) to NII, 8,07,90,252 (9.99%) to RII, 7, 97,101 (0.10%) to employees and 36,35,56,135 (44.96%) to Anchor investors. 4,14,308 RIIs will receive a minimum of 195 shares, and 14,796 (sNII) and 29,593 (bNII) will receive a minimum of 2,730 shares. (in case of oversubscription)

OLA Electric has set the IPO price band at ₹72 to ₹76 per share. The minimum lot size for an application is 195 Shares.

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.
• On the 2nd day of subscription, OLA Electric IPO subscribed 0.11x. The public issue subscribed 3.02 times in the retail category, 0.42 times in QIB, and 1.16 times in the NII category.

Grey Market Premium

OLA Electric IPO’s last GMP is ₹4.60, last updated Aug 05, 2024. With the price band of 76.00, the estimated listing price is ₹80.6 (cap price + today’s GMP). The expected percentage gain/loss per share is 6.05%.

About Ola Electric Mobility Limited

Ola Electric Mobility Ltd (OEML) is a pure EV player in India. It is building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. It manufactures EVs and certain core EV components like battery packs, motors, and vehicle frames at the Ola Futurefactory. The company’s business focuses on capturing the opportunity arising out of the electrification of mobility in India. Also, it seeks opportunities to export its EVs to select international markets in the future.

The company recorded the highest revenue of all Indian incorporated electric 2Ws (E2Ws) original equipment manufacturers (OEMs) from E2W sales in Fiscal 2023. The company operates its own direct-to-customer (D2C) Omni channel distribution network across India, comprising 870 experience centres and 431 service centres (of which 429 service centres are located within experience centres) as of March 31, 2024.

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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.