The IPO of Ola Electric, a company that makes electric scooters (E-Scooters), has opened. This IPO was opened for subscription on 2 August itself. There is still time left to bet in this IPO. If you want to bet on this IPO, then you can invest till 6 August 2024. The price band of this IPO has been fixed from Rs 72 to Rs 76.
The IPO of Bhavish Aggarwal’s company Ola Electric was awaited for a long time and on 27th July, information about its opening was received. The lot size of 195 shares has been fixed by the company. According to the upper price band, to become a shareholder in the profits of Ola Electric, you will have to bid for at least one lot and for this you will have to invest Rs 14,820. Talking about its GMP, it is Rs 8 per share.
There was a tremendous response from investors
Ola Electric IPO is getting good response from investors. So far it has received 38 percent subscription. Retail investors have subscribed it the most, 1.70 times. Non-institutional investors have subscribed it 0.22 times. In the category of Ola employees, this IPO has been subscribed 5.42 times.
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How big is this IPO?
Talking about the size of Ola Electric IPO, the company will raise a total of Rs 6,145.56 crore from the market through the issue. Under this, a total of 808,626,207 shares will be put up for sale. Talking about the fresh issue, 723,684,210 new shares with a face value of Rs 10 will be issued. Their total value will be Rs 5,500 crore. On the other hand, bids will be sought for 84,941,997 shares worth Rs 645.56 crore through Offer for Sale (OFS).
When will the shares be listed?
After receiving bids from 2 to 6 August, the allotment of the company’s shares will be done on 7 August, while the shares will be credited to the demat accounts of the bidding investors on 8 August. The company has fixed August 9 as the tentative date for listing on both the stock exchanges BSE and NSE.
(Note- Before investing in any IPO, please take the help of a financial advisor.)
Source (PTI) (NDTV) (HINDUSTANTIMES)