Ola Electric IPO allotment likely to be fixed today. Latest GMP, steps to check allotment status

Ola Electric IPO Allotment: The initial public offering (IPO) of electric two-wheeler maker Ola Electric Mobility Ltd has ended and the investors now await the Ola Electric IPO allotment which is expected to be finalised today.

Ola Electric IPO opened for subscription on August 2 and closed on August 6. Ola Electric IPO allotment date is August 7 and the IPO listing date is August 9.

The company is likely to fix the basis of allotment today and credit the shares into the demat accounts of eligible investors on August 8. Unsuccessful bidders whose bids have been rejected will get the refund of their application money on the same day.

Investors can check Ola Electric IPO allotment status online through the BSE website or the official portal of IPO registrar. Link Intime India Private Ltd is the Ola Electric IPO registrar.

In order to check the Ola Electric IPO allotment status online, investors must follow the below mentioned steps.

Ola Electric IPO Allotment Status on Link Intime

Step 1: Visit Link Intime India website on this link - https://linkintime.co.in/initial_offer/public-issues.html

Step 2: Select ‘la Electric Mobility Limited’ in the Select Company dropdown menu

Step 3: Choose among PAN, App. No., DP/Client ID and Account No/IFSC

Step 4: Enter the details as per the option selected

Step 5: Click on ‘Submit’

Your Ola Electric IPO allotment status will be displayed on the screen

Ola Electric IPO GMP

Ola Electric IPO GMP today, or grey market premium today, shows a discounted price. On Wednesday, Ola Electric IPO GMP is negative or minus ₹3 per share. This shows Ola Electric shares are trading at a discount of ₹3 in the grey market, according to stock market experts.

Considering the GMP today and the issue price, the estimated listing price of Ola Electric shares is ₹73 apiece, a discount of 4% to the IPO price of ₹76 per share.

Ola Electric IPO Subscription Status

The ₹6,145.56 crore worth Ola Electric IPO saw strong demand from investors during its bidding period. Ola Electric IPO has been subscribed 4.45 times in total as the issue received bids for 198.17 crore equity shares as against 44.5 crore shares on the offer.

The public issue was subscribed 4.05 times in the retail category, 5.53 times in the Qualified Institutional Bidders (QIB) category, and 2.51 times in the Non-Institutional Investors (NII) category.

Ola Electric IPO Details

Ola Electric IPO opened for public subscription on Friday, August 2, and closed on Tuesday, August 6. The Ola Electric IPO allotment date is today, August 7, and the IPO listing date is August 9. The equity shares of Ola Electric Ltd will be listed on both the stock exchanges - BSE and NSE.

Ola Electric IPO price band was set at ₹72 to ₹76 per share. At the upper-end of the price band, the company raised ₹6,145.56 crore from the book-built issue which was a combination of fresh issue of 72.37 crore equity shares worth ₹5,500 crore and an offer-for-sale (OFS) component of 8.49 crore shares worth ₹645.56 crore.

Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, SBI Capital Markets, Citigroup Global Markets India, Goldman Sachs (India) Securities, ICICI Securities and BoB Capital Markets are the book running lead managers of the Ola Electric IPO, while Link Intime India Private Ltd is the IPO registrar.

Ola Electric is a pure Electric Vehicle (EV) player in India and is building vertically integrated technology and manufacturing capabilities for EVs and EV components, including cells. The company manufactures EVs and certain core EV components like battery packs, motors, and vehicle frames at the Ola Futurefactory.

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