Ola Electric IPO launched today and will be open for bidding until August 6, 2024. The IPO price range is set at ₹72 to ₹76 per share, aiming to raise ₹6,145.56 crore. Out of this, ₹5,500 crore will come from fresh shares, and ₹645.56 crore from the Offer for Sale (OFS) route.
Key Details:
- Grey Market Premium (GMP): Ola Electric shares are trading at a ₹17 premium in the grey market.
- Price Range: The IPO price band is ₹72 to ₹76 per share.
- Dates: The IPO opened today and will close on August 6, 2024.
- Size: The IPO aims to raise ₹6,145.56 crore, with ₹5,500 crore from fresh shares and ₹645.56 crore from OFS.
- Lot Size: One lot consists of 195 shares.
- Allotment Date: Shares are likely to be allocated on August 7, 2024.
- Registrar: Link Intime India Private Limited.
- Listing: The shares will be listed on BSE and NSE.
- Listing Date: Expected to be listed on August 13, 2024.
Should You Invest?
Analysts have mixed views. Tapan Doshi suggests a ‘subscribe’ tag, noting Ola Electric’s strong market share and growth potential despite challenges like high employee attrition and ongoing losses. Tarun Singh highlights the company’s market expansion and participation in government incentive schemes, which can drive future profitability. Some leading brokerages have given it a ‘subscribe’ tag, while others have not rated it.
Investors with a high-risk appetite might consider subscribing for potential long-term gains.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
