Ola Electric IPO Closes with Strong Subscription: How to Check Your Allotment Status

Ola Electric Mobility, a major player in the electric vehicle sector, recently concluded its much-anticipated Initial Public Offering (IPO). The IPO closed on Tuesday, and it attracted significant attention, with the subscription rate surpassing expectations.

Subscription Details

The IPO of Ola Electric Mobility was hailed as the largest public issue of the year. Despite the high expectations, the response from investors was measured but positive. By the closing day, the IPO had been oversubscribed by 4.26 times. Specifically, the offer received bids for 1,98,14,05,530 shares against the 46,51,59,451 shares that were made available.

The price range for the IPO was set between Rs 72 and Rs 76 per share. This valuation led to a total market cap of Rs 6,145.56 crore for Ola Electric Mobility Limited at the time of the IPO.

Investor Participation

Investor interest varied across different segments. The Qualified Institutional Buyer (QIB) category showed the highest enthusiasm, subscribing 5.31 times the shares offered to them. The Retail Portion followed, with a subscription rate of 3.85 times, and Non-Institutional Investors participated with a 2.39 times subscription rate. Notably, the Employee Portion saw an impressive subscription rate of 11.66 times, indicating strong internal confidence in the company’s prospects.

Checking Allotment Status

For investors who participated in the Ola Electric IPO, checking the allotment status is straightforward. Participants can access their results by logging onto the BSE website or the portal of Link Intime India Private Ltd, which is the registrar for the IPO.

The IPO of Ola Electric Mobility has undoubtedly set a significant benchmark in the electric vehicle industry for 2023. With subscriptions far exceeding the available shares, the enthusiasm of various investor categories—from institutional to retail—highlights the market’s confidence in Ola Electric’s potential. For those who have invested, the next step is to check the allotment status as outlined, ensuring they are up to date with their investment outcomes. As Ola Electric moves forward, the market will keenly watch its performance, which could set the tone for future tech and green energy IPOs.