Ola Electric IPO Subscription Day 1:Before the launch, there was a lot of craze among investors about the IPO of electric scooter maker Ola Electric. But the same craze was not seen in the first two days of subscription. Today, even on the second day of this IPO, investors did not bid much. Due to which it could not even be half filled. However, the reserved portion for employees is getting decent bids. On the other hand, its premium is also declining in the grey market.
This IPO can be subscribed till August 6. The company has fixed the price band for the IPO at Rs 72-76 per share. The size of the IPO is Rs 6150 crore. Fresh equity shares worth Rs 5500 crore will be issued in the Ola Electric IPO. At the same time, there will be an offer for sale (OFS) of 95,191,195 shares i.e. about Rs 646 crore. It will be listed in the stock market on August 9.
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Ola Electric GMP : 13%
On the second day of the IPO, the craze for Ola Electric in the grey market has decreased. The company’s unlisted stock has come at a premium of Rs 10 in the grey market. This is a 13 percent premium in terms of the upper price band of Rs 76.
Rating of IPOs
Brokerage house LKP Securities has advised to subscribe to Ola Electric Mobility’s IPO for a long term. Brokerage house Anand Rathi has advised only risk-taking investors to subscribe to the IPO for a long term.
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What is the growth strategy of the company
• India centric EV products with India first strategy
• Continue to invest in research and development to advance technological capabilities and optimize costs
• Creation of an EV hub with vertically integrated manufacturing and supply chain to improve cost efficiency.
• Developing cell technology and strengthening in-house manufacturing capabilities.
• Expanding product portfolio to enhance market penetration.
• Strengthening the D2C omnichannel network across sales, services and charging.
• Efficient allocation of capital and focus on growth.
• Strongly positioned to capitalise on global EV opportunities.
Source: SBI Securities
(Disclaimer: Advice or information regarding investing in shares (IPO) is given by the brokerage house. These are not the personal views of Financial Express. There are risks in the market, so take expert advice before investing.)
