– Ola Electric Mobility’s IPO saw a muted response from investors on the first day of bidding
– The issue was mostly subscribed by retail investors, with the company looking to raise Rs 6,145.56 crore
– The grey market premium of Ceigall India has taken a hit amid volatility
– Analysts have mixed views on the IPO, citing concerns about the company’s loss-making nature and rich valuations
– Ola Electric is the leader in the E2W market with a 35% share, but intense competition may impact profitability
– The company reported a net loss of Rs 1,584.40 crore for FY24
– Ola Electric’s IPO could be a pivotal development in the green mobility space in India
– The company has reserved shares for eligible employees and different categories of investors
– The IPO is managed by BofA Securities India, Axis Capital, Kotak Mahindra Capital, and others with shares likely to be listed on BSE and NSE on August 9.