Ola Electric IPO Opens for Subscription Today: Key details to know
The initial public offering (IPO) of Ola Electric opens for subscription today, August 2. Led by Bhavish Aggarwal, the company holds approximately a 35 percent market share in India’s electric two-wheeler sector for FY24. The IPO will close on August 6, with the allotment basis set for August 7. Shares are expected to be credited to demat accounts on August 8, and Ola Electric’s stock is slated to debut on the exchanges on August 9.
Here are the top things to know about the Ola Electric Mobility IPO:
Important dates for the Ola Electric IPO are as follows: subscriptions go live on August 2 and end on August 6.
Ola Electric IPO pricing range: The price range for each equity share with a face value of ₹10 is ₹72 to ₹76.
Ola Electric IPO lot size: Each lot comprises 195 equity shares, and subsequent lots are offered in multiples of 195 shares.”
IPO specifics for Ola Electric: Investors and promoters will be offering 8.49 crore equity shares for sale (OFS) as part of Ola Electric’s first public offering. Bhavish Aggarwal is expected to sell approximately 3.8 crore shares in the OFS. 10% of the shares in the initial public offering (IPO) are reserved for retail investors, 15% for non-institutional institutional investors (NII), and 75% of the shares for qualified institutional buyers (QIB).
The goals of Ola Electric’s initial public offering (IPO) are to use the net proceeds for general corporate purposes, debt reduction, support expenses for organic growth initiatives, and research and product development.
Date of Ola Electric’s IPO listing: On August 9, the company’s shares are probably going to go public on the BSE and NSE.
The lead registrar and book-running manager for the Ola Electric initial public offering (IPO) are Kotak Mahindra Capital Company Ltd., Goldman Sachs (India) Securities Private Ltd., and ICICI Securities Ltd. The issue is registered with SBI Capital Markets Ltd. and Kotak Mahindra Capital Company Ltd. The registrar is Link Intime India Private Ltd.
