Ola Electric IPO: Public issue surges 75% on day 2; GMP hints at slowdown in listing; check key dates here
As the second day of bidding progresses, Ola Electric’s Rs 6,145-crore initial share offer is showing signs of investor interest. The IPO, which opened on Friday, August 2, initially saw a lukewarm response with just 35% of the issue being subscribed. However, by the second day, investor enthusiasm, especially among retail investors, pushed the subscription tally to 74% as of 2:27 pm, BSE data showed.
In response to Ola Electric’s initial public offering (IPO), retail investors purchased 2.69 times more shares than were allocated to them. The company’s confidence in the Indian electric vehicle (EV) market is demonstrated by this participation, which is a positive indicator. The initial success of the IPO was largely attributed to retail investors, who are frequently regarded as a gauge of the mood of the market as a whole.
The subscription status of Ola Electric’s IPO has reached 74% at 2:27 pm on the second day of bidding, up from 35% recorded on the first day. Retail investors have been particularly active, with their portion subscribed 2.69 times. Non-institutional investors have subscribed to 85% of their allotted shares. The quota for qualified institutional buyers (QIBs) is still not fully booked. Meanwhile, the employee portion has received a strong response, getting subscribed 8.58 times.
