Ola Electric IPO allotment likely today

7 Aug 2024 , 03:04 PM

The share allotment for Ola Electric’s IPO will most likely be concluded on Wednesday. The registrar will oversee the entire process, and investors will be allocated shares by a lottery. On the allotment date, investors are informed of the quantity of shares assigned to them in comparison to the bids submitted.

They can check the allotment status with the BSE or by going to the registrar’s website.

Ola Electric’s IPO went smoothly, despite low demand for the first two days due to unfavourable market sentiment. At the time of closure, the issue had been subscribed to little more than four times.

Prior to the issue opening, the business gathered slightly more than Rs 2,700 crore from anchor investors including as Nomura, HDFC Mutual Fund, SBI Mutual Fund, and others.

Ola Electric is India’s leading electric two-wheeler manufacturer, with the largest revenues. It is also developing vertically integrated technology and production capabilities for electric vehicles and their components, such as cells.

At the Ola Futurefactory, the company manufactures EVs as well as basic EV components such as battery packs, motors, and vehicle frames. It has produced seven goods and announced four more products since the initial product announcement in August 2021.

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