Today, Ola Electric's IPO has been listed on the National Stock Exchange. The company's shares have been flat listed. The flat listing itself shows that the company has not received much support from investors. Ola IPO has been subscribed 4.27 times.
Today, Ola Electric IPO has been listed in the stock market. The company's IPO has been flat listed on both the stock market exchanges i.e. BSE and NSE. The IPO was listed at Rs 75.99 on the Bombay Stock Exchange (BSE) and at Rs 76 on the National Stock Exchange (NSE).The market capitalization of the company (Ola Electric M-Cap) at the time of listing stood at Rs 36,742.21 crore.
IPO subscribed 4.27 times
Ola Electric's IPO was open from August 2 to August 6. This IPO has been subscribed a total of 4.27 times. Today the company's shares have been listed in 'B' group securities. The company had raised Rs 2763.03 crore from anchor investors. At the same time, the price band of Ola IPO was Rs 72-76 / share.
Ola Electric is the country's first two-wheeler electric vehicle company to enter the stock market.
Ola Electric IPO Listing: Shares of Ola Electric Mobility had a lackluster listing in the stock market on Friday.
Despite the long wait and discussions, this IPO got a cold response. After this, the listing of the company's shares in the market today was also disappointing.
The company's stock was listed on NSE at the issue price of Rs 76, dashing hopes of listing at a discount. On BSE too, the stock was listed at Rs 75.99 with a marginal premium of just 0.01 per cent.
Investors did not make profit
At 10 am, the company's shares were listed on NSE at Rs 75.99 with a discount of 0.01 per cent. The price band of this IPO was fixed between Rs 72 to Rs 76 and each lot consisted of 195 shares. This means that investors had to invest at least Rs 14,820 for one lot. However, the listing of the stock took place at Rs 75.99 with a slight decline against the upper price band of Rs 76, which did not cause a big loss to the investors, but the hopes of profit were dashed.
However, within a few minutes, Ola Electric's shares saw a rise and it jumped by 9 per cent on NSE. After the initial minutes of trading, at 10:10 am, Ola Electric's stock rose by nearly 9 per cent to reach the level of Rs 83.30.
What were the indications from GMP?
Even before the listing of Ola Electric shares, there were indications of listing at a discount. In the gray market, Ola Electric shares were trading at a discount of Rs 3 and the premium (GMP) went negative and fell to minus 3. In the gray market, the premium coming into zero or negative zone is considered a sign of poor listing.
When was the IPO opened?
The IPO of the electric vehicle company was open for subscription between August 2 and August 6. The country's largest electric two-wheeler (e2W) manufacturer raised Rs 2763.03 crore from anchor investors on August 1.
Ola Electric Price Band
The price band of Ola Electric's IPO has been fixed at Rs 72-76 per share.
Know other information related to IPO
The company will use the money received from them to repay debt, expand its gigafactory and on research and development.
Use of IPO
Ola Electric's head office is in Bangalore. Ola Electric was started in the year 2017. This company was started by Bhavish Aggarwal. The company also manufactures equipment like battery pack, motor and vehicle frame for electric vehicles of electric scooters. All these equipment are made in Ola Future Factory.
It is believed that the company will launch its first electric motorcycle on 15 August 2024. Apart from this, the company will soon bring three-wheelers in the market. Ola has said that it will launch electric auto in the next 6 months.
.png)
.png)
0 Comments