Resurfacing Ola Electric IPO's Day 2 Full Subscription (August 2024), Retail Book at 2.87x
Resurfacing coverage from August 2024: Ola Electric's ₹6,145 Cr IPO crossed full subscription on Day 2, with retail investors bidding 2.87x their allotted shares and employees at 1.63x, even as QIB demand lagged at just 4%. The issue closed Aug 6, with listing on BSE/NSE that took place Aug 9 at a price band of ₹72-76, valuing the EV maker near $4.4 Bn.
Ola Electric's IPO was fully subscribed on Day 2, with retail portion booked 2.87x; issue closes August 6, listing expected August 9 on BSE/NSE.