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Lukewarm Response for Ola Electric IPO on Day 1

Lukewarm Response for Ola Electric IPO on Day 1

Ola Electric Mobility's IPO saw a modest 35% subscription on its opening day, August 2, 2024. The IPO includes a fresh issue of 72.37 crore shares and an offer-for-sale of 8.49 crore shares, with the price band set at ₹72-₹76 per share. Retail investors showed strong interest, oversubscribing their portion by 1.57 times, while Non-Institutional Investors (NIIs) only subscribed 20% of their allocated shares. The IPO is open until August 6, with the allotment status expected on August 7. Minimum investment starts at ₹14,820 for 195 shares.

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