– Ola Electric Mobility’s IPO has received a moderate response from investors on its second day of bidding
– The IPO is offering shares at Rs 72-76 each and aims to raise Rs 6,145.56 crore
– The IPO was fully booked with bids for 49,09,15,035 equity shares received, exceeding the available shares
– Ola Electric is a leading player in the electric vehicle sector, manufacturing electric vehicles and key components
– Grey market premium for Ola Electric has dropped significantly, affecting investor sentiment
– Analysts have varied opinions on the IPO, citing positive factors such as Ola Electric’s leadership in the E2W market and concerns about its loss-making history and high valuations
– The company reported a revenue of Rs 5,243.27 crore and a net loss of Rs 1,584.40 crore for the fiscal year 2023-24
– Ola Electric is involved in advanced EV cell manufacturing at its Ola Gigafactory
– The lead managers for the IPO are 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