Ola Electric IPO: Shares likely tao list at 5-10% discount to issue price

Ola Electric IPO is likely to be listed at around ₹73 per equity share as it is available at a discount of ₹3 in the grey market.

OLA Electric IPO: The IPO opened for subscription on August 2 and closed on August 6. The electric vehicle company offered shares in the fixed price range of ₹72 to ₹76 per share with a lot size of 195 shares.

Ola Electric IPO is set to list on the bourses today (August 9). The stock is expected to make a lacklustre debut after the IPO of Ola Electric was subscribed 4.27 times owing to decent response from qualified institutional buyers and retail investors.

Ola Electric IPO details

The IPO opened for subscription on August 2 and closed on August 6. The electric vehicle company offered shares in the fixed price range of 72 to 76 per share with a lot size of 195 shares.

Through the IPO, the company raised a total of ₹6,146 through the issue which comprised of a fresh share sale of ₹5,500 crore and an offer-for-sale (OFS) up to 8.49 crore shares. From the Net proceeds of the IPO ₹1,600 crore will be used for research and development purposes, it said, adding, “We cannot assure you that such investment into research and development will proceed as planned and result in creation of tangible assets or achieve results as anticipated.”

Ola Electric IPO GMP today
Ola Electric Mobility Limited shares are available at a discount of ₹3 in the grey market today which means that the IPO is likely to be listed at around ₹73 per equity share.

Ola Electric IPO listing price prediction
Prashanth Tapse, senior VP — research at Mehta Equities, said, “The much-hyped Ola Electric IPO received demand well below street expectation. Looking at the subscription figures and mood of the markets, there are very high possibilities of flat to discounted listing in the range of negative 5 per cent to positive 10 per cent in the best-case scenario. Discounted listing would be justified because of weak financials and risk of negative net cash flows in the past and future negative cash flows.”

Source: https://www.hindustantimes.com/business/ola-electric-ipo-shares-likely-to-list-at-5-10-discount-to-ipo-price-101723169630705.html

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