– Ola Electric Mobility’s IPO saw a muted response from investors on the second day of bidding, with only 72% of shares subscribed
– The company is selling shares in the price band of Rs 72-76 apiece, aiming to raise Rs 6,145.56 crore
– Retail investors subscribed 2.61 times, while non-institutional investors subscribed 81%
– Ola Electric’s grey market premium dropped, indicating a potential listing pop of 5%
– Brokerage firms have mixed views on the IPO, citing concerns about the company’s loss-making nature and rich valuations
– The company reported a net loss of Rs 1,584.40 crore with revenue of Rs 5,243.27 crore for the financial year ended March 31, 2024
– Canara Bank Securities recommends subscribing to the IPO for long-term gains
– Shares of Ola Electric will be listed on BSE and NSE on August 9, managed by several lead managers
– Readers are advised to consult with a financial advisor before making any investment decisions.