• Source:JND
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Ola Electric IPO: Electric two-wheeler company Ola Electric Mobility's initial public offering of Rs 6,145 crore received subscriptions 4.27 times on the final day of bidding on Tuesday. According to NSE data, bids for 1,98,79,03,905 shares were received in contrast to the 46,51,59,451 shares offered in the initial share sale.

The quota for qualified institutional buyers (QIBs) received 5.31 times subscriptions, while the category of retail individual investors (RIIs) received 3.92 times subscriptions. For non-institutional investors, the share is subscribed 2.40 times.

The Initial Public Offering (IPO) has a fresh issue of up to Rs 5,500 crore and an offer for sale (OFS) of up to 8,49,41,997 equity shares. The offer price band is Rs 72-76 per share. Under OFS, Ola Electric founder Bhavish Aggarwal is offloading about 38 million shares.

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Share allotment likely to be finalised today

As the IPO is closed, investors are now awaiting the Ola Electric IPO allocation, which is likely to be finalized today i.e. August 7. The Ola Electric IPO opened for subscription on August 2nd and closed on August 6th.

The company is expected to credit the shares in the demat accounts of eligible investors on August 8, after fixing the allotment basis today.

How to check Ola Electric IPO share allotment status

- Visit Official Registrar's website https://linkintime.co.in/initial_offer/public-issues.html

- Find ‘Ola Electric Mobility Limited’ from the dropdown menu

- You have to choose PAN, App. No., DP/Client ID, and Account No/IFSC to proceed further

- Fill the details as per the option you have selected

- Then Next, Click on the ‘Submit’ button

Now, your Ola Electric IPO allotment status will be on the screen

Ola Electric IPO GMP

The GMP, or grey market premium, of the Ola Electric IPO, is currently at a discount. Ola Electric IPO GMP is negative or minus Rs 3 per share on Wednesday. This indicates that Ola Electric stock is being traded at a discount of Rs 3 in the grey market, according to stock market experts.

Ola Electric shares have an estimated listing price of Rs 73 each, based on today's GMP and issue price, a 4% discount from the IPO price of Rs 76 per share.

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