One of the companies that has been a huge talking point for years, has taken the next logical step in its journey in India. We are talking about the CEO Bhavish Aggarwal led Ola, which is an electric 2-wheeler maker. Ola IPO is on its way, much to the joy of investors out looking for big money-making opportunities. Here we take a close look at the Ola IPO GMP today, date, price, subscription, listing, gain, allotment, Bhavish Aggarwal’s stake sale and everything else that an investor is looking at to gain some insight.
Notably, the Ola IPO GMP (grey market premium) has already started climbing and this is just one of the many aspects investors should look at before deciding whether they want to invest in the Bhavish Aggarwal led Ola IPO or not. Ola Electric IPO will open for subscription this week.
Investors should remember that Ola Electric Mobility is competing against some very big and iconic companies in India including Bajaj Auto, TVS Motors, and Ather Energy.
Ola Electric IPO GMP today
Check Ola IPO GMP today. While IPO Watch said GMP was Rs 25 apiece on July 27, 2024, according to InvestorGain, the grey market premium is Rs 15 today, Monday, July 29, 2024. The GMP still indicates that Ola IPO listing gain will be there. Also, the estimated Ola IPO listing price may be in green, accoring to the grey maret. However, there is nothing official about these GMP numbers.
Ola IPO price band
Ola Electric IPO price band has been announced at Rs 72-76.
Ola IPO subscription date
Ola IPO opening date is August 1 to August 6, 2024. Ola IPO is likely to raise funds from anchor investors on August 1.
Ola IPO listing date
Ola IPO listing date on stock exchanges is likely on August 9, 2024. This is as per the original market timeline.
Bhavish Aggarwal Ola IPO stake sale
There is an offer for sale (OFS) component in the Ola Electric IPO. Bhavish Aggarwal Ola IPO stake sale was expected at 47.3 million shares, but he has scaled that back by 20%, reports say. MoneyControl reports that promoters Aggarwal, and Indus Trust, will be offloading 3.79 crore and 41.79 lakh shares in the OFS.
Ola IPO size
Ola Electric’s DRHP has indicated that the company plans to raise Rs 5,500 crore through the Ola IPO route of fresh issue. OFS, at the upper price band is 645.96 cr. Total issue size is expected at Rs 6145.96 crore, along with OFS component of up to 84.94 mn shares. Ola market capitalisation (total) is expected at around Rs 33500 cr.
Other Ola IPO stake sale OFS participants are:
AlphaWire
Alpine
DIG Investment
Matrix
Ola IPO funds utilisation
Ola Electric IPO proceeds will go toward capital expenditure, debt repayment, and research and development purposes.
Ola IPO – expectations
Ola Electric is eyeing big spike in electric vehicle demand in India to power its growth. Expectations are of a 20 per cent CAGR growth in EV demand by FY30. This is up from 5 per cent in FY24, Mint reported.
Ola Electric valuations
Ola Electric fund raising in 2023 valued the company at $5.4 billion.
Ola Electric IPO investment banks:
Kotak Mahindra Capital
Axis Capital
Goldman Sachs
ICICI Securities
BofA Securities
SBI Caps
BoB Caps
Ola Electric performance
Ola Electric has reported a loss of Rs 267.16 crore in the period ending June 30, 2023. It was Rs 1,472.08 crore in the previous quarter. Ola revenues halved to Rs 1,278.68 crore in June quarter 2023 from Rs 2,782.70 crore in the March quarter 2023.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Ola IPO GMP today, date, price, subscription, listing, gain, allotment and everything else we know about this upcoming issue. CEO Bhavish Aggarwal Ola IPO stake sale on too. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
