Impact of deteriorating stock market on ola Electric IPO…

The IPO of ola Electric Mobility has closed with a weak response from investors. Today was the last day to apply in the IPO. The reserve category for institutional, non-institutional and retail investors in the IPO has been filled but investors have not shown enthusiasm for investing in the IPO. ola Electric Mobility has closed with a subscription of only 4.27 times. The impact of the deteriorating sentiment in the stock market has been seen on the IPO of ola Electric.

In the IPO of ola Electric Mobility, around 25.23 crore shares were reserved for institutional investors. But this category has been subscribed only 5.31 times, applications have been received from investors for 134 crore shares. 12.72 crore shares were reserved for non-institutional investors and applications have been received for around 30.49 crore shares and this category has been subscribed 2.40 times. 8.48 crore shares were reserved for retail investors and applications have been received for 33,24,44,970 shares. This category has managed to be subscribed only 3.92 times. The category reserved for employees has been subscribed 12 times.

ola Electric's IPO opened on august 2, 2024 and the last date for investors to apply was august 6, 2024. ola Electric aims to raise Rs 6145 crore through IPO. For shares with a face value of Rs 10, the company has fixed a price band of Rs 72-76 per share. Rs 5500 crore is being raised by issuing a fresh issue and Rs 645.56 crore is being raised through offer for sale. Allotment will be finalised on august 7, stocks will be credited to the demat accounts of successful investors along with issuing refunds to investors on august 8 and the stock will be listed on NSE and BSE on august 9.

Know the GMP of IPO

ola Electric's IPO received a weak response, the price is flat in the grey market. The GMP of ola Electric IPO was trading at Rs 11.50 before the opening of the IPO, which has come down to zero on the closing day of the IPO. In such a situation, there is a possibility that the listing of the IPO may remain flat.