OLA Electric IPO Subscription Status

OLA Electric IPO - Day-3 Subscription at 4.45 times

OLA Electric IPO closed on 6 Aug. Shares of OLA Electric are likely to be listed on 9 August on BSE, NSE. As of 6th Aug 2024, OLA Electric IPO received bids for 1,98,17,12,070 shares much more than the 44,51,43,490 shares offered. It means OLA Electric IPO was oversubscribed 4.45 times by the end of day 3.

Here are the subscription details for OLA Electric IPO as of Day 3 (6th August 2024 at 5:51 pm): 

Employees mainly drove OLA Electric IPO subscription, then QIB investors on day 3, followed by retail investors, while HNI / NII investors showed less interest on day 3 among all categories. QIBs and HNIs/NIIs generally increase their subscriptions in the final hours of the last day. Overall subscription figures do not include the anchor portion or the market making segment of the IPO. 

QIBs are large institutional investors like mutual funds and insurance companies, while HNIs/NIIs are wealthy individual investors and smaller institutions.

Subscription Status of OLA Electric IPO for Days 1, 2, and 3

On day 1, OLA Electric IPO was subscribed 0.38 times. By day 2, the subscription status had risen to 1.12 times and on day 3, it reached 4.45 times.

Here are the subscription details for OLA Electric IPO by category as of Day 3:

Data Source: NSE

OLA Electric IPO received a varied response from different investor categories. Market Maker and Anchor Investors subscribed at 1 time each. Qualified Institutional Buyers (QIBs) showed interest on day 3 and subscribed 5.53 times. HNIs / NIIs portion subscribed 2.51 times while Retail Investors subscribed 4.05 times. Overall, OLA Electric IPO was subscribed 4.45 times on Day 3.

OLA Electric IPO - Day-2 Subscription at 1.12 times

OLA Electric IPO will close on 6 Aug. Shares of OLA Electric are likely to be listed on 9 August on BSE, NSE. As of 5th Aug 2024, OLA Electric IPO received bids for 49,66,80,795 shares much more than the 44,51,43,490 shares offered. It means OLA Electric IPO was oversubscribed 1.12 times by the end of day 2.

Here are the subscription details for OLA Electric IPO as of Day 2 (5th August 2024 at 6:19 pm):  

Employees mainly drove OLA Electric IPO subscription, then Retail investors on day 2, followed by High NetWorth Individuals and Non Institutional Investors (NIIs), while QIB investors did not show much interest on day 2. QIBs and HNIs/NIIs generally increase their subscriptions in the final hours of the last day. Overall subscription figures do not include the anchor portion or the market making segment of the IPO. 

QIBs are large institutional investors like mutual funds and insurance companies, while HNIs/NIIs are wealthy individual investors and smaller institutions.

Here are the subscription details for OLA Electric IPO by category as of Day 2:

Data Source: NSE

On day 1, OLA Electric IPO was subscribed 0.38 times. By day 2, the subscription status had risen to 1.12 times. Qualified Institutional Buyers (QIBs) showed less interest on day 2 and subscribed 0.42 times. HNIs / NIIs portion subscribed 1.17 times while Retail Investors subscribed 3.04 times. Overall, OLA Electric IPO was subscribed 1.12 times on Day 2.

OLA Electric IPO - Day-1 Subscription at 0.38 times

OLA Electric IPO will close on 6 Aug. Shares of OLA Electric are likely to be listed on 9 August on BSE, NSE. On 2nd Aug 2024, OLA Electric IPO received bids for 16,73,22,480 shares much more than the 44,51,43,490 shares offered. It means OLA Electric IPO was oversubscribed 0.38 times by the end of day 1.

Here are the subscription details for OLA Electric IPO as of Day 1 (2 August 2024 at 6:17 pm):

OLA Electric IPO subscription was mainly driven by Employees, then Retail investors on day 1, followed by High NetWorth Individuals and Non Institutional Investors (NIIs), while QIB investors showed no interest on day 1. QIBs and HNIs/NIIs generally increase their subscriptions in the final hours of the last day. Overall subscription figures do not include the anchor portion or the market making segment of the IPO. 

QIBs are large institutional investors like mutual funds and insurance companies, while HNIs/NIIs are wealthy individual investors and smaller institutions.

Here are the subscription details for OLA Electric IPO by category as of Day 1

Data Source: NSE

On day 1, OLA Electric IPO was subscribed 0.38 times. Qualified Institutional Buyers (QIBs) showed no interest on day 1 and subscribed zero times. HNIs / NIIs portion subscribed 0.22 times while Retail Investors subscribed 1.69 times. Overall, OLA Electric IPO was subscribed 0.38 times on Day 1

About OLA Electric

Founded in 2017, Ola Electric Mobility is an electric vehicle company that manufactures EVs and key components like battery packs, motors, and frames at their Ola Futurefactory.

Since August 2021, they have launched 7 new products and announced four more. Their first EV model Ola S1 Pro was delivered in December 2021. This was followed by Ola S1, Ola S1 Air, Ola S1 X and Ola S1 X+ in the subsequent years. On August 15, 2023, they announced new EV models and a range of motorcycles, including Diamondhead, Adventure, Roadster and Cruiser.

Highlights of OLA Electric IPO

IPO dates:  2 Aug - 6 Aug
IPO price band: ₹72 - ₹76 per share
Minimum lot size for retail investors: 1 lot (195 shares)
Minimum investment for retail investors: ₹14,820
Minimum investment for High Net-worth Investors (HNI): 14 lots (2,730 shares), ₹207,480
Registrar: Link Intime India Private Ltd

OLA Electric will use the net proceeds for capital expenditure, repaying certain borrowings, Investment into research and product development and general corporate purposes.

OLA Electric IPO Allotment Status