The IPO of Ola Electric Mobility saw a muted response from investors on the first day of bidding. The issue was mostly subscribed by retail investors, with minimal interest from non-institutional investors. Ola Electric is selling its shares in the price band of Rs 72-76 apiece, looking to raise Rs 6,145.56 crore via IPO. The grey market premium for the company has taken a hit. Analysts have mixed views on the IPO due to the company’s loss-making nature and rich valuations. Ola Electric’s market leadership and growth potential have been highlighted, with a recommendation to subscribe for the long term. Ola Electric reported a net loss of Rs 1,584.40 crore in the financial year ended March 31, 2024. The IPO could be a significant development in the green mobility space in India. The company has reserved shares for eligible employees. BofA Securities India, Axis Capital, Kotak Mahindra Capital, SBI Capital Markets, Citigroup Global Markets India, Goldman Sachs (India) Securities, ICICI Securities, and BOB Capital Markets are the lead managers of the IPO. Shares of the company will be listed on both BSE and NSE likely on August 9, Friday.