Electric scooter (E-Scooter) manufacturing company Ola Electric is going to launch an IPO. Its price band has also been announced by the company. OLA Electric IPO Price Band has been fixed at Rs 72 to Rs 76. The IPO of Bhavish Aggarwal’s company Ola Electric was awaited for a long time and the information about its opening was revealed only on July 27.
Will be able to invest money till 6th August
The initial public offering (IPO) of Ola Electric Mobility will open on Friday, August 2 and investors will be able to bid in it till August 6. If reports are to be believed, the company has fixed the lot size of 195 shares. If we look at the upper price band, to become a participant 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.
The size of Ola IPO is so big
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. If we talk about fresh issue, 723,684,210 new shares with 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?
Ola Electric is a mobility and EV company. It was founded by Bhavish Aggarwal in Bengaluru in the year 2017. After receiving the bids from August 2 to 6, the allotment of the company’s shares can happen on August 7, while the share credit in the demat accounts of the bidding investors can happen on August 8. The company has fixed August 9 as the probable date for listing on both the stock exchanges BSE and NSE.
If we look at a recent report by Reuters, the aspect valuation of Ola is about 18.5 percent to 22 percent lower than its previous funding round in September. The company had initially set a valuation target of $6-7 billion, but later reduced its expectations. Talking about investment banks, there are Kotak Mahindra Capital, Goldman Sachs, Axis Capital, ICICI Securities, BofA Securities, Citi Group, BoB Caps and SBI Caps.
(Note- Before making any kind of investment in the stock market or IPO market, definitely take advice from your market experts.)