After a long wait, the shares of OLA Electric have been listed. Ola Electric has had a flat listing in the domestic market. It was listed at its issue price of Rs 76 per share, which means that investors did not get any profit on listing. However, after listing, its shares are witnessing a tremendous rise and they have jumped more than 18 percent to cross Rs 90 per share.
The IPO of Ola Electric, an electric scooter (E-Scooter) manufacturing company, opened on August 2 and remained open till August 6, 2024. The price band of this IPO was fixed from Rs 72 to Rs 76. Under this IPO, a lot size of 195 shares was made, in which a minimum investment of Rs 14,820 had to be made to invest.
Got good response from investors
Bhavish Aggarwal’s company Ola Electric’s IPO did not get a good response from investors. It was subscribed a total of 4.45 times. Retail investors subscribed it 4.05 times, while the QIB category subscribed 5.53 times and NII subscribed 2.51 times.
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Ola Electric IPO Size
Talking about the size of OLA Electric IPO, it was Rs 6,145.56 crore. Under this IPO, the company had issued a fresh issue of a total of 72.37 crore shares. At the same time, 8.49 crore shares were issued through offer for sale. Its shares were allotted on 7 August 2024 and today i.e. on 9 August, its shares have been listed on BSE and NSE.
There was no good response in the grey market
The response of OLA Electric shares in the grey market was not very good. The last grey market premium (GMP) was -3 rupees per share, but the listing was flat. However, after this, there was a great rise in the shares and the shares of Ola Electric rose by more than 18 percent. They are currently trading above Rs 90 per share. The market cap of Ola Electric Company has reached Rs 39,794.51 crore.
(Note- Before investing in any stock, please seek help from a financial advisor.)
Source (PTI) (NDTV) (HINDUSTANTIMES)