Ola Electric IPO allotment today: GMP tumbles; Check expected listing price

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Ola Electric IPO allotment today: The basis of allotment for SoftBank-backed Ola Electric Mobility Limited's IPO shares is scheduled for today, August 7, 2024. The IPO subscription window closed yesterday, August 6, 2024. Ola Electric IPO was available at a price band of Rs 72-76 with a lot size of 195 shares for the investors. The public issue received decent participation from investors, being oversubscribed 4.45 times by the last date of subscription.

Ola Electric IPO final subscription status

Qualified institutional buyers (QIBs) placed the highest bid for the Ola Electric IPO, with a subscription rate of 5.53 times, followed by retail investors at 4.05 times. Meanwhile, the non-institutional investors (NIIs) portion was subscribed 2.51 times by the last day of the subscription.

Ola Electric IPO allotment status

The shares of Ola Electric are scheduled to be allotted today. Once the allotment is finalised, investors can check the allotment status by visiting the official website of BSE or Link Intime India, the registrar for the issue. Alternatively, one can follow these links to check the allotment status directly:

Check Ola Electric IPO Allotment status on BSE - https://www.bseindia.com/investors/appli_check.aspx

Check Ola Electric IPO Allotment status on Link Intime India - https://linkintime.co.in/initial_offer/public-issues.html

Ola Electric IPO GMP today

The grey market premium (GMP) of Ola Electric IPO has fallen on Wednesday. The company's shares are currently trading at a discount of Rs 3 or nearly 4 per cent over the upper band of the IPO price, according to several websites that track grey market activities. This indicates a negative or lackluster listing for the Ola Electric shares.

Ola Electric expected listing price

Shares of Ola Electric are scheduled to list on the BSE and NSE on Friday, August 9, 2024. Current trends in the grey market suggest that Ola Electric shares may list around Rs 73, a discount of nearly 4 per cent from the upper band of the issue price.

About Ola Electric Mobility Limited

Bhavish Aggarwal-led Ola Electric Mobility Limited is a leading Electric Vehicle (EV) company in the rapidly growing Indian electric two-wheeler (E2W) market. Founded in 2017, OEML focuses on developing advanced technology and manufacturing capabilities for EVs and their components, including battery cells. The company has introduced seven products, securing a leading position in the E2W market with a 35 per cent market share in FY24.