Ola Electric IPO Listing: Today is a big day for Ola Electric as well as the company’s investors. One of the most talked about IPOs of this year, Ola Electric’s IPO is going to enter its next stage today. Yes, Ola Electric is going to be listed in the stock market today. This IPO, which opened on August 2, was closed on August 6. However, the company’s IPO did not get the support that was expected. Ola Electric’s IPO got only 4.5 times subscription.
Ola Electric had fixed the price band between Rs 72 and Rs 76
Ola Electric had fixed a price band of Rs 72 to Rs 76 for each share for its IPO. The company is raising Rs 6,145.56 crore through this IPO. The investors who applied for the IPO were allotted shares on Wednesday, August 7. After which the company is going to be listed today i.e. Friday, August 9.
There is no enthusiasm about the company’s shares in the gray market
As we have already told you that Ola Electric’s IPO did not get the kind of support from investors that was expected. Hence, there is no enthusiasm for the company’s shares even in the grey market. According to various websites that track the grey market premium i.e. GMP price of shares, Ola Electric shares are trading with a premium of -3 rupees.
At what price can the company’s shares be listed in the stock market
That is, the company’s shares are trading at a discount of Rs 3 in the gray market. In this regard, the listing of Ola Electric shares can be at Rs 73, Rs 3 less than the upper level of Rs 76 of the price band fixed by the company.
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