Resurfacing Ola Electric's ₹6,145 Cr IPO: Day 2 Saw Full Subscription, Retail Investors Drove 2.87x Demand (August 2024)
Revisiting a August 2024 milestone: ahead of its Aug 9 listing, Ola Electric's IPO crossed full subscription on day two at 1.09x overall, powered by retail (2.87x) and employee (1.86x) demand, while institutional interest stayed soft with QIB at just 0.5x and NII at 0.71x. Price band was set at ₹72-76, valuing the EV maker up to ₹33,523 Cr.
Ola Electric's Rs 6,145 Cr IPO was fully subscribed on day two, driven by strong retail and employee demand, though institutional interest remained muted ahead of its Aug 9 listing.