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 the listing. However, after its listing, its shares are witnessing a tremendous rise and they have jumped by more than 18 percent and have crossed Rs 90 per share.
The IPO of electric scooter (E-Scooter) manufacturing company Ola Electric was opened on 2nd August and remained open till 6th August 2024. The price band of this IPO was fixed at 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.
Got good response from investors
The IPO of Bhavish Aggarwal’s company Ola Electric did not get good response from investors. It was subscribed a total of 4.45 times. Retail investors had subscribed it 4.05 times, while QIB category had subscribed 5.53 times and NII had subscribed 2.51 times.
Size of Ola Electric IPO
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. Whereas 8.49 crore shares were issued through offer for sale. The allotment of its shares was done on 7th August 2024 and on 9th August i.e. today its shares were listed on BSE and NSE.
There was no good response in gray market
The response of OLA Electric shares was not much in the gray market. The last gray market premium (GMP) was Rs 3 per share, but the listing remained flat. However, after this there was a great rise in the shares and Ola Electric shares 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 share, take help from a financial advisor.)