Ola Electric IPO:-
Ola Electric, the second-largest player in India’s electric two-wheeler market, concluded its very recently. The next event of this ipo event is the allotment of shares; it is supposed to get finalized today. This article will help you guide how to check allotment status of the IPO of Ola Electric, the latest grey market premium, and some basic background of the company.
Know About Ola Electric IPO Allotment
An initial public offering of Ola Electric Mobility Ltd was open for subscription between August 2 and August 6. An allotment date has been set on August 7, and the IPO listing date is August 9. Everyone wants to know their allotment status since allotment will be done on the said date for bringing shares to the demat account or with a refund of the application money.
How to Check Ola Electric IPO Allotment Status Online:
Investors can visit the website of the BSE or directly avail the official portal of the IPO registrar of the company, Link Intime India Private Ltd to check the allotment status. Below-described is the procedure that investors will have to follow to check the allotment:
How to Check Ola Electric IPO Allotment Status
1. Open Link Intime India Website
Do visit the link https://linkintime.co.in/initial_offer/public-issues.html
2. Choose Company
In the drop-down menu ‘Select Company,’ choose ‘Ola Electric Mobility Limited’.
3. Identification Option
You have four identification options: PAN, Application Number, DP/Client ID, and Account Number/IFSC.
4. Enter Details
Fill in your details according to the identification option you used.
5. Submit
Click the ‘Submit’ button to view your allotment status.
On screen, your allotment status will be displayed whether you have been allotted shares or the application got rejected.
Ola Electric IPO Latest GMP (Grey Market Premium)
The GMP is hovering at a negative ₹3 per share for Ola Electric IPO, updated as of today. This indicates that the shares in the grey market are trading with a discount of ₹3. GMP usually reflects investor sentiment and market expectations but is not an official number.
Ola Electric IPO Subscription Status
Subscription up to now has been very healthy, coming in at a total of 4.45 times. Check out the details below:
Retail Category: Subscribed 4.05 times
Qualified Institutional Bidders (QIB): Subscribed 5.53 times
Non-Institutional Investors (NII): Subscribed 2.51 times
This sort of response indicates the confidence the market holds for the future growth of Ola Electric.
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Details of Ola Electric IPO
The target was an amount of ₹6,145.56 crore from the IPO. The price range of the IPO was fixed at ₹72 to ₹76 per share. At the higher end of this price band, the company succeeded in raising the targetted amount. The IPO comprised a fresh issue of 72.37 crore equity shares worth ₹5,500 crore and an OFS of 8.49 crore shares worth ₹645.56 crore.
Dates to Remember
Date for IPO Allotment: 7 August
Date of Opening for subscription: August 9
The equity shares of the company are proposed to be listed on BSE and NSE.
About Ola Electric IPO
Ola Electric is a dominant player in the Indian Electric Vehicle space. The Company is building the entire ecosystem for Electric Vehicles from selection and manufacture of core components of EV like battery pack, motor and vehicle frame, etc. Ola’s Future factory is the world’s largest two-wheel electric vehicle factory, which reflects its commitment to sustainable transportation.
Vision and Mission of Ola Electric IPO
Ola Electric is building a future of urban mobility that is accessible to many by taking electric vehicles to the world. It builds a greener world by taking every possible effort required to reduce the carbon footprint, with the backing of cutting-edge technology and disruptive designs. Ola Electric is first in the line of manufacturers of EVs in India.
Ola S1 and S1 Pro: With excellent range and speed, along with loads of features, these e-scooters can easily become an attention puller among intra-city commuters.
It is aggressively investing in better technology in batteries to drive improvements in performance and the reliability of its EVs.
Charging Infrastructure: There is also a charging infrastructure strong enough to back up that kind of EVs for users’ convenience.
Investor Sentiments and Market Position
Ola Electric’s IPO has attracted massive interest from both retail and institutional investors. Its market position, innovation in products, and commitment to sustainability are major drivers for interest into the company. The future prospects for Ola Electric still look good in terms of demand for electric cars, which is without a doubt on the rise.
Interpreting GMP and Market Reaction
While the GMP may be a downer, the macro context of the market and long-term potential should not be lost on one for Ola Electric. GMP would sometimes go either way based on a cocktail of factors, including market sentiments. Yet strong fundamentals and a vision for the future guided by strategy look promising for Ola.
For the investors, the allotment of Ola Electric IPO shares is going to be a landmark event and the next action that is bound to happen. Since the allotment is most likely to be finalized today, investors can check their allotment status online by visiting the BSE website or Link Intime. Being backed up by strong subscription numbers and existing in a strategic market position, Ola Electric, despite the negative GMP, shows its potential in the electric vehicle sector.
Ola Electric IPO FAQs
1. How to check Ola Electric IPO allotment status?
Go to the website of Link Intime India or the BSE and enter the required details.
2. What does a negative GMP indicate?
A negative GMP is a sign that grey market shares have been trading at a discount.
3. When will the shares get credited to my demat account?
Shares will be credited on August 8.
4. What is the IPO listing date for Ola Electric?
The IPO listing date is set for August 9.
5. Why is there strong investor interest in Ola Electric?
Investors have a huge interest in Ola Electric because of innovative products, commitment to sustainability, and a strong market position.
This is just the beginning of the route of Ola Electric in the public market, as the allotment of shares will still await finalization today. Keep watching this space for more updates and insights into the company’s performance and market impact.