OLA Electric IPO Allotment Status

Ola Electric IPO: Strong Subscription, Allotment, and Listing Details

The OLA Electric IPO concluded on 6th August 2024 with an overall subscription rate of 4.45 times. The company's shares will be listed on the NSE and BSE mainboard on 9th August 2024. By the end of the subscription period, the IPO had received bids for 1,98,17,17,140 shares, surpassing the 44,51,43,490 shares on offer.

The IPO garnered interest across various investor categories. Qualified Institutional Buyers (QIB) led with a subscription rate of 5.53 times, followed by retail investors at 4.05 times. Non-institutional investors (NII) subscribed 2.51 times the shares allocated to their category. The employee portion was oversubscribed by 12.38 times. Anchor investors fully subscribed to their portion with a subscription rate of 1 time.

Investors who have applied for the OLA Electric IPO can check their allotment status through the official website of the registrar (not specified in the provided information) or through the NSE and BSE websites.

How to Check OLA Electric IPO Allotment Status on Link Intime India 

Step 1 - Here's a step-by-step guide to checking the allotment status:

Step 2 - Visit the Link Intime India Private Ltd website: https://linkintime.co.in/MIPO/Ipoallotment.html

Step 3 - Select "Ola Electric Limited" from the company dropdown menu.

Step 4 - Enter your PAN number, application number, or DP Client ID.

Step 5 - Click on the "Search" button to view your allotment status.

Step 6 - Download or print the allotment status for your records.

How to Check OLA Electric IPO Allotment Status on NSE 

Step 1 - Go to the official NSE website: https://www.nseindia.com/

Step 2 - Navigate to the "Equities" section and select "IPO" from the dropdown menu

Step 3 - Click on the "Check Application Status" option

Step 4 - Choose "Ola Electric" from the Issue Name dropdown

Step 4 - Enter your PAN number and application number

Step 5 - Complete the captcha verification

Step 6 - Click on "Search" to view your allotment status

Step 7 - Download or print the allotment status for your records

Ola Electric IPO Timeline IPO 

Open Date: Friday, 2nd August 2024 

IPO Close Date: Tuesday, 6th August 2024 

Basis of Allotment: Wednesday, 7th August 2024 

Initiation of Refunds: Thursday, 8th August 2024 

Credit of Shares to Demat: Thursday, 8th August 2024 

Listing Date: Friday, 9th August 2024

Investors who received company shares will have their demat accounts credited on 8th August 2024. The refund procedure will begin on Thursday as soon as the allotment is finalised. 

Ola Electric IPO Subscription Status 

Subscription Day 3
Total Subscription: 4.45 times
Institutional Investors (QIBs): 5.53 times
Non-Institutional Investors (HNIs): 2.51 times
Retail Investors: 4.05 times

Subscription Day 2
Total Subscription: 1.12 times
Institutional Investors (QIBs): 0.42 times
Non-Institutional Investors (HNIs): 1.17 times
Retail Investors: 3.04 times

Subscription Day 1
Total Subscription: 0.38 times
Institutional Investors (QIBs): 0.00 times
Non-Institutional Investors (HNIs): 0.22 times
Retail Investors: 1.70 times

About Ola Electric IPO

The Ola IPO is a book-built issue with a total size of ₹6,145.56 crores. The OLA IPO was open for subscription from 2nd August 2024 and closed on 6th August 2024. The allotment is anticipated to be finalised on 7th August 2024, with the listing scheduled on the NSE and BSE mainboard on 9th August 2024. The price band for the OLA IPO is set between ₹72 and ₹76 per share, with a minimum lot size of 195 shares, requiring a minimum investment of ₹14,820 for retail investors. For High Net-worth Investors (HNIs), the maximum investment is ₹1,92,660 for 13 lots (2,535 shares).

The IPO's registrar is Link Intime India Private Ltd. The proceeds will primarily be used for capital expenditures to expand the cell manufacturing plant, repaying or pre-paying indebtedness, investing in research and development, and supporting organic growth initiatives.

Established in 2010, Ola Electric Mobility Limited is a leading electric vehicle (EV) company in India, specialising in developing and manufacturing EVs and core components. The company operates the Ola Futurefactory in Tamil Nadu, India's largest integrated and automated electric two-wheeler manufacturing plant. Ola Electric offers various models, including the Ola S1 Pro, Ola S1, Ola S1 Air, and Ola S1 X+.