– Ola Electric IPO hit the D-Street on Friday, August 2 and will close on Tuesday, August 6.
– The IPO received 35% subscription on the first day of bidding, with retail investors oversubscribing by 1.57 times.
– The IPO price band is set at ₹72 to ₹76 per share, with the company receiving ₹2,763 crore from major investors before the start of the subscription period.
– Ola Electric aims to be a one-stop shop for the electric vehicle sector and has a strong market share in the Indian E2W segment.
– Analysts recommend subscribing to the IPO for long-term gains, citing the company’s focus on EVs and potential for growth.
– The company’s listed peers include TVS Motors, Eicher Motors, Bajaj Auto, and Hero MotoCorp, with Ola Electric positioning itself for future expansion into new vehicle categories.
– Ola Electric achieved a 35% subscription on the first day of bidding, with retail investors leading the way and non-institutional investors showing interest as well.